IMF downgrades Nigeria’s economic growth
The International Monetary Fund has downgraded Nigeria’s economic growth by 0.3 percentage points to 2.9 per cent for 2023 as a result of lower production in oil and gas.
IMF backs Nigeria, others over use of digital money
By Peter Egwuatu The International Monetary Fund, IMF, has said there is no universal case for central-bank digital currencies, CBDC. Taking this position yesterday, the IMF Managing Director, Kristalina Georgieva, urged policy makers to carefully weigh trade-offs as financial innovation enters a new phase with Nigeria and Bahamas being pioneers. Bloomberg quoted Georgieva as saying, […]
Worsening insecurity threatens Nigeria’s economic recovery — IMF
THE International Monetary Fund, IMF, yesterday warned that worsening violence and insecurity could derail Nigeria’s recovery from economic recession.
Nigerian banks closed 234 branches, 649 ATMs — IMF
The International Monetary Fund, IMF, yesterday, said that Nigeria’s banks closed 234 branches and 649 Automated Teller Machines, ATMs, in 2020 leading to a decline in the country’s Financial Access Score (FAS) to 4.44 in the year against 4.78 in 2019.
Urgent action needed to accelerate vaccinations for 60% population ― IMF
International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, says urgent action is needed to accelerate vaccinations to cover at least 60 per cent of population in every country by 2022. Georgieva said this at the closing of the meeting of the G20 Finance Ministers and Central Bank Governors on Saturday in Venice, Italy. In a […]
COVID-19: IMF warns of bankruptcies, firms closures
By Emma Ujah The International Monetary Fund, IMF, has warned of bankruptcies and closures of firms, unless policy makers adopt measures to keep businesses afloat, across the globe, in the face of the COVID-19 pandemic. Mr. Malhar Nabar, who heads the team that produces the World Economic Outlook in the Research Department of the IMF […]
32m Africans fell into extreme poverty in 2020 ― IMF
***Predicts difficult post-COVID recovery ***Projects 3.4% for 2021 By Emma Ujah – Abuja The International Monetary Fund (IMF) disclosed that 32 million people in Sub-Saharan Africa were pushed into extreme poverty in 2020. The Director, African Department, Abebe Selassie, disclosed this in a virtual briefing on IMF latest Regional Economic Outlook for Sub-Saharan Africa. According […]
Digital money can facilitate remittances – IMF
Kristalina Georgieva, Managing Director of, International Monetary Fund (IMF) says the world is witnessing a revolution in digital money that can make remittances easier, faster, and cheaper.
World Bank/IMF: Committee says COVID-19 pandemic causing economic shock, others
BY Peter Egwuatu The Development Committee of World Bank Group , WBG and International Monetary Fund, IMF on Friday said that the coronavirus, COVID-19 pandemic has caused an unprecedented public health, economic, and social crisis, threatening the lives and livelihoods of millions. The Committee stated this at the ongoing World Bank /IMF 2021 virtual Spring […]
IMF proposes $ 650b special drawing rights to members — Kristinalina Georgieva
The International Monetary Fund (IMF) is to propose a $650 billion Special Drawing Rights (SDR) to its member countries in the organisation’s efforts to boost their reserve positions.
IMF raises Nigeria’s economic growth forecast to 2.5%
The International Monetary Fund (IMF) has raised its economic growth forecast for Nigeria in 2021 to 2.5 per cent.
