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 […]
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 […]
…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 […]
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 […]
“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 […]
.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 to […]
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 the great lockdown the worst recession since the […]
…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 whopping N39.929 trillion or $118.898 billion, The Daily […]
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 trade have spiked in […]
• 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 […]