The IMF has approved $174 million (148 million euros) in emergency assistance to South Sudan, the country’s central bank governor said Thursday, as floods and depressed oil prices rattle its economy. South Sudan ran out of foreign exchange reserves last year as oil prices fell sharply due to the coronavirus pandemic, depriving the fragile government […]

The IMF on Friday approved a $2.34 billion aid package to Kenya to “address the urgent need to reduce debt vulnerabilities,” the institution said in a statement. The Washington-based development lender said the funds would be spread over 38 months, with an immediate disbursement of about $307.5 million, “usable for budget support.” “Kenya was hit […]

The International Monetary Fund (IMF) has said that it may revise its 2021 outlook for Nigeria’s economy upwards from 1.5 percent in the next round of its projection this April given recent positive developments in the economy.

Analysts dispute IMF’s 1.5% forecast for 2021 Project  2.7% economic growth for 2021 By Babajide Komolafe Following the faster than expected economic growth in Q4’2020 and lower contraction for the full year 2020, leading investment analysts have disputed the 1.5 per cent growth forecast for Nigeria’s economy in 2021   by the International Monetary Fund […]

Cautions against hike in tax rate By Emma Ujah, Abuja Bureau Chief MONEY MARKET The International Monetary Fund (IMF) has expressed support for the directive    of the Central Bank of Nigeria (CBN) that banks should close all accounts related to cryptocurrency transactions.   However, the IMF cautioned the Federal Government (FG) against increasing the […]