*Subsidies on fuel, electricity not sustainable, benefits very lean, say Experts *NLC cautions against subsidies’ removal, urges FG to be wary of IMF prescriptions Philip Clement, Abuja and Joy Obakeye, Lagos Mixed reactions have continued to trail the statement attributed to the International Monetary Fund (IMF) urging the Federal Government to completely remove fuel and […]
Developing countries are expected to receive $275 billion dollars out of the International Monetary Fund’s (IMF) $650 billion dollars Special Drawing Rights (SDRs) to be distributed among member countries based on their quota shares in the IMF. Ms Kristalina Georgieva, IMF’s Managing Director, said this in a statement on Monday, in Washington DC, while announcing […]
Uddin Ifeanyi It is no longer news that both the International Monetary Fund (IMF) and the World Bank have reduced their expectations for economic growth in Nigeria this year. While the IMF pared 0.2 percentage points off its October 2020 World Economic Outlook projections, the World Bank shaved 0.6 percentage points off its June 2020 […]
Global financial institution, the International Monetary Fund (IMF) has been cautioned not to give the Nigerian government another $3.4bn loan to purportedly fight the coronavirus pandemic. Before furrher financial assistance could be given to Nigerian government which currently seeks $3.4billion loan to fight COVID-19, the IMF was advised to demand a comprehensive detail of how […]
The International Monetary Fund’s (IMF) chief on Thursday warned that trade tensions and resulting uncertainties could shave off 0.8 per cent of global Gross Domestic Product (GDP) by 2020. Kristalina Georgieva, the Managing Director of the IMF, said this at the end of a roundtable discussion with Chinese Premier Li Keqiang and the heads of […]
…Currency in circulation drops to N1.96trn The Nigerian economy has continued to improve, while further efforts to address remaining gaps by both the monetary and fiscal authorities have been encouraged by local and international financial stakeholders, even as the nation’s foreign external reserves appreciated to $47.804billion as at Monday, May, 2018. Also, latest statistics from […]
The International Monetary Fund (IMF) has said that the Global Income Inequality has declined in recent years, indicating perfect equality dropping from 68 in 1988 to 62 in 2013. According to the IMF, this decline reflects relatively strong growth in many emerging and developing economies, particularly in China and India. With the Gini index – […]
The International Monetary Fund has said that West African Economic and Monetary Union (WAEMU) members states recorded 6.1 per cent growth in 2014. This is contained in a report issued by the Executive Board of the Fund at the end of its 2015 Article IV consultation with WAEMU. “In spite of fragile political and […]