The global economy will contract 3 per cent this year due to the new coronavirus and shutdowns aimed at mitigating its spread, the IMF said on Tuesday in its updated World Economic Outlook. The prediction marks a massive 6.3-per-cent swing off previous estimates from January. “This makes
…Projects economy drop of 3.4% in 2020 …Says Nigerian economy to bounce back by 2.4% in 2021 As a result of the COVID-19 pandemic, the International Monetary Fund (IMF), on Tuesday, said that Nigeria could be heading for its worst recession in three decades, even as it projected an economic drop of 3.4 per cent […]
The International Monetary Fund’s (IMF) Executive Board has approved immediate debt service relief to 25 of its member countries under the IMF’s revamped Catastrophe Containment and Relief Trust (CCRT). Ms Kristalina Georgieva, the Managing Director, said this in a statement issued in Washington, D.C. on Tuesday. According to her, the relief was part of the […]
Washington – The coronavirus pandemic will spark the worst global economic fallout since the Great Depression of the 1920s and 1930s, the International Monetary Fund (IMF) warned on Thursday. “The world is facing an unprecedented crisis in the coming year, a period which would be unusually difficult,’’ IMF Managing Director Kristalina Georgieva, told a news […]
The International Monetary Fund and World Bank on Wednesday called for governments to put a hold on debt payments from the world’s poorest nations so they can battle the coronavirus pandemic. “The World Bank Group and the IMF believe it is imperative at this moment to provide a global sense of relief for developing countries […]
. Africa needs $100bn economic stimulus, says Finance ministers Managing Director of International Monetary Fund (IMF), Kristalina Georgieva, has said that a global recession as bad as the 2008 financial crisis is in the offing. In a statement to the G20 Finance Ministers, she said that the human costs of the Coronavirus pandemic are already […]
Oil prices edged lower on Thursday as fresh tensions between the United States and China over ongoing protests in Hong Kong fueled concern that a long hoped-for deal to end a trade war between the world’s top two economies may be further delayed. Trade experts have warned the first phase of a deal could slide […]
.Warns against uncertainty surrounding global economy weakness .As Nigeria’s inflation hits 11.24% in September 2019 Channel Kogi’s N10bn through workers, not Bello, PDP tells NASS The International Monetary Fund (IMF) has slashed global economy growth forecast in its October 2019 World Economic Outlook (WEO). This is just as the National Bureau of Statistics (NBS) has
Tax experts at the on-going IMF/World Bank Group Annual Meetings in Bali urged Nigeria and other countries to issue appropriate taxation regulations and tax rates to suit e-commerce businesses in their countries. This was a consensus reached during a panel discussion on Wednesday in Bali, Indonesia, titled “Fair and Transparent Taxation in a Digital Age”. […]
The International Monetary Fund said the world economy is plateauing as the lender cut its growth forecast for the first time in more than two years, blaming escalating trade tensions and stresses in emerging markets. On the eve of its annual meetings in Bali, Indonesia, the fund on Tuesday, projected a global expansion of 3.7 […]
…As Naira gains at investors FX window …Foreign reserves steady at $47.865bn Total transaction turnover in the Nigeria’s Foreign Exchange (Forex) market, Foreign Exchange Derivatives; Treasury Bills (T.bills) market, FGN bonds; Other Bonds; Eurobonds; Repurchase Agreements/Buy-Backs and Unsecured Placements/Takings, between January and March, 2018 stood at a
The International Monetary Fund (IMF) has said it will systematically address corruption and its impact on economic growth with all its member countries under new guidelines launched on Sunday. The stricter new policy also aimed at tackling how rich countries contribute to corruption in the developing world by failing to prevent bribery and money laundering […]
The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has raised concern over what she described as ‘lack of trust’ among global trade partners stressing, “must be fixed.” Lagarde raise the concern on Thursday at the World Bank’s and IMF’s Spring Meetings 2018 conference in Washington. Tensions in global
• Latest oil price surge first since Nov 2014 • Tension in Middle East triggers oil increase Following simmering Mideast tensions and keen United States demand, global oil price for the first time in three years, surged to $75 a barrel on Thursday. Agence France Presse (AFP) also reports that as of close of Thursday […]
• Says economic growth will pick up to 2.1 % in 2018 • Warns that debt services to revenue ratio remains high The International Monetary Fund (IMF) has said that the Nigerian economy has exited from recession but remains vulnerable. Economic growth reached 0.8 percent in 2017, driven mainly by recovering oil production, while inflation […]
Christine Lagarde, the managing director of the International Monetary Fund, has warned against adverse implications likely to stem from the economic impact of U.S. import tariffs, saying ‘no one emerges victorious from a trade war’. She warned that the impact could be grave if other countries respond with their own barriers. Earlier, Donald Trump reiterated
Agriculture and Rural Development minister, Audu Ogbeh, has advised policymakers to be mindful of importing international policies and ideas in the country. Ogbeh gave the advice while speaking on the 57th Independence Anniversary of the country in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja. The minister said the country’s […]
The Federal Government of Nigeria (FGN) must look for a way of tackling the current recession experienced by the country without following International Monetary Fund (IMF) and World Bank formula. The Principal Consultant of B. Adedipe Associates Limited, Dr. Biodun Adedipe, stated this at the 2016 Nigeria Deposit Insurance Corporation (NDIC) workshop for Business Editors
Nigeria and other oil exporting countries in the Sub-Saharan region have been advised by the International Monetary Fund (IMF) to make fiscal policy adjustments in the light of crashed oil prices. Unveiling the April 2015 IMF Regional Economic Outlook: Sub-Saharan Africa, Ms. Antoinette Sayed, Director, IMF African Department commented: “Sub-Saharan Africa’s economy is set
Chad will receive $1.1bn in debt relief after completion of the Highly Indebted Poor Countries (HIPC) initiative of the World Bank and International Monetary Fund (IMF), its finance minister said on Tuesday. Kordje Bedoumra said in an interview that the oil-producing central African nation – one of the poorest countries on earth – had […]
