Money

CBN’s FX backlog clearance boosts naira stability- IMF

DailyTimesNGR DailyTimesNGR 24 October 2024 0

..As Edun calls for increased oil production to ease forex challenges BY MOTOLANI OSENI The International Monetary Fund (IMF) has highlighted that recent policy actions by the Central Bank of Nigeria (CBN), particularly the clearance of a significant foreign exchange (FX) backlog and ongoing

Headlines

Experts oppose IMF call on electricity subsidy removal

DailyTimesNGR DailyTimesNGR 13 March 2024 0

..Say it will have adverse effect on Nigerians Some financial experts have kick against the International Monetary Fund (IMF)’s call for the Federal Government to ensure total removal of electricity subsidy. They said this in separate interviews with the News Agency of Nigeria (NAN) on Tuesday in Lagos. The former President of the Chartered Institute […]

Headlines

IMF to FG: Addressing food security your swift priority

DailyTimesNGR DailyTimesNGR 6 March 2024 0

…Says MPC decision to tighten monetary policy‘ll contain inflation, pressures on Naira By Mathew Brangyet The International Monetary Fund (IMF) has told the Nigerian government that addressing food insecurity should be its immediate priority for the safety and growth of the economy. The IMF, however, noted that the President Bola Tinubu-led administration inherited a

Headlines

IMF downgrades Nigeria’s economic growth, pegs 2024 inflation rate at 23%

DailyTimesNGR DailyTimesNGR 31 January 2024 0

.Says global economy picking up softly but risks remain By Motolani Oseni & Mathew Brangyet The International Monetary Fund (IMF) has revised downwards its growth projection for Nigeria for 2024 to 3.0 per cent from 3.1 per cent which it earlier projected even as it projected the country’s inflation rate at 23 per cent this […]

Business

IMF warns over worsens global inequality amidst significant rise in AI

DailyTimesNGR DailyTimesNGR 21 January 2024 0

By Godwin Anyebe The International Monetary Fund (IMF) has warned that nearly 40 per cent of jobs across the globe could be affected by the rise of artificial intelligence, with high-income economies facing greater risks than emerging markets and low-income countries. The Washington, D.C.-based institution assessed the potential impact of AI on the global labor […]

Headlines

How currency depreciation in Nigeria, sub-Saharan Africa increases debt stock –IMF

Ihesiulo Grace 18 May 2023 0

By Motolani Oseni The International Monetary Fund (IMF) says the depreciation of sub-Saharan African currencies against the US dollar pushes up public debt stock. This is contained in the global lender’s recent blog post titled, ‘African Currencies Are Under Pressure Amid Higher-for-Longer US Interest Rates’. Countries in sub-Saharan Africa include Nigeria, Angola, Kenya,

Business

EM Sovereigns: IMF remains cautious on World economic outlook

Ihesiulo Grace 16 April 2023 0

The International Monetary Fund’s (IMF) latest World Economic Outlook highlighted some areas of caution in the global economy, with the focus on risks from banking instability, sticky core inflation and rising public debt levels. The Fund slightly lowered its global growth forecast for both 2023 and 2024 by 0.1% in relation to its previous update […]

Headlines

Nigeria growth figure to decline further to 3.0% in 2024, says IMF

Ihesiulo Grace 13 April 2023 0

By Motolani Oseni International Monetary Fund (IMF)in its April 2023 economic outlook has projected that Nigeria economy will which had a growth figure of 3.3 per cent in 2022, is projected to decline to 3.2 per cent in 2023 and 3.0 per cent in 2024. It also projected that the South Africa economy will grow […]

Business

Nigeria’s economic growth to hit 3.2% in 2023- IMF

Ihesiulo Grace 1 February 2023 0

By Godwin Anyebe The International Monetary Fund IMF says Nigeria’s economy is set to grow from 3.0 per cent in 2022 to 3.2 per cent in 2023 due to measures made to address insecurity in the oil sector. The IMF disclosed this in its World Economic Outlook Update (January 2023) report. It stated that growth […]

Business

IMF: 15% of low-income countries suffer from debt distress

Ihesiulo Grace 18 January 2023 0

By Godwin Anyebe According to the International Monetary Fund IMF, approximately 15 per cent of low-income countries are already in debt distress. In a new report titled ‘Confronting fragmentation where it matters most: Trade, debt, and climate action’, the IMF said an additional 45 per cent of the population is further at high risk of […]

Headlines

IMF lowers Nigeria’s economic growth projection to 3.2%

Ihesiulo Grace 13 October 2022 0

By Motolani Oseni and Godwin Anyebe The International Monetary Fund (IMF) has lowered Nigeria’s 2022 economic growth projection to 3.2 per cent, even as it said that growth in Sub-Saharan Africa is expected to decline to 3.6 per cent in 2022 as against 4.7 per cent recorded in 2021. The new projected economic growth for […]

News

Food inflation in Nigeria to worsen, IMF warns

Ihesiulo Grace 7 December 2021 0

The International Monetary Fund has warned that food inflation might soon worsen in Nigeria and the neighbouring countries. According to the IMF, food accounts for 40 per cent of the consumption basket in sub-Saharan African countries. According to the report Nigeria’s food inflation rate skyrocketed in February to 21.9 per cent, the highest recorded since […]

Business

Global economy waxing stronger amid uncertainties, says IMF

Ihesiulo Grace 31 March 2021 0

By Philip Clement Despite uncertainties inherent in the world economy, the International Monetary Fund (IMF) in its world outlook report says the global economy is waxing stronger. In the report released on Tuesday, IMF however, said that the Economic growth led by the United States and China is increasing, posing the risks of uneven global […]

Business

IMF chief calls for strong G20 action to reverse ‘dangerous divergence’ in global economy

Ihesiulo Grace 24 February 2021 0

Strong policy action to reverse the ‘dangerous divergence’ that threatens to leave most developing economies languishing for years should be taken by the Group of 20 countries, the head of the International Monetary Fund said in a blog on Wednesday. In order to speed up the roll-out of COVID-19 vaccines in poorer countries, IMF Managing […]

Business

IMF World Bank to hold 2020 annual meetings virtually

Ihesiulo Grace 11 July 2020 0

The International Monetary Fund (IMF) and World Bank Group (WBG) have announced that their annual fall meetings will be mostly virtual as part of safety protocols due to the coronavirus pandemic. The two global organizations in a joint statement yesterday said that due to the situation of COVID-19 around the world, and given the ongoing […]

Opinion

A vaccine, a seat across from the IMF, and the economy

Ihesiulo Grace 27 May 2020 0

Almost three months into the global pandemic, the scorecards for most economies are in. The first quarter of this year was awful for just about every country in the world, even though most did not start responding to the challenge posed by COVID-19, through restrictions on movement, until mid-March. This latter reason is why most […]

Business

Nigeria gets IMF’s $3.4bn loan at 1% interest rate

Ihesiulo Grace 7 May 2020 0

…as FG seeks debt service deferral The International Monetary Fund (IMF) said it has already disbursed the $3.4 billion to Nigeria at one per cent interest rate, the Managing Director of the fund, Kristalina Georgieva disclosed. READ ALSO: COVID-19: Juventus confirms Dybala free Speaking on CNBC Africa Georgieva said that the money is now with the […]

Business

We’re seeking debt service deferral from IMF – Finance minister

Ihesiulo Grace 6 May 2020 0

Minister of Finance, Budget and National Planning, Zainab Ahmed says that the federal government are seeking a debt service deferral form the International Monetary Fund. READ ALSO: Reps probe Akpabio, NDDC mgt over alleged funds mismanagement This is coming in the midst of the global Coronavirus pandemic which has slowed down virtually all aspects of […]

Featured News

Buhari seeks outright debt cancellation for Nigeria, others from IMF, World Bank

Ihesiulo Grace 4 May 2020 0

“Within the spirit of South-South cooperation, we must also assist one another, particularly the less developed and less endowed member states with technical, medical, and financial assistance. It is by so doing that we can rightly claim to uphold the Bandung Principles of equality, mutual interests, and cooperation.’’ President Muhammadu Buhari has said President Buhari

News

Finally, IMF approves N1.2trn emergency support for Nigeria

Ihesiulo Grace 29 April 2020 0

.Commends Nigeria for ‘immediate action’ against COVID-19 crisis Finally, the executive board of the International Monetary Fund (IMF) has approved the $3.4 billion (N1.227 trillion) requested by the Nigerian government for emergency support. READ ALSO: Coronavirus: Udom cancels random testing, says it’s waste of resources The fund on Tuesday explained that the board met