Talks between crisis-hit Lebanon and the International Monetary Fund are deadlocked, and leaders reluctant to enact reforms. Without a vital multi-billion-dollar bailout, is Lebanon headed for “hell”? For months, the Mediterranean country has grappled with its worst economic crisis since the 1975-1990 civil war. Tens of thousands have lost their jobs or part of their […]

AGAINST the backdrop of the latest World Bank Nigeria Development Update (NDU) of June 25, 2020, notable economists have urged the Federal Government to move decisively in stimulating the economy to prevent it from plunging into a severe recession, comparable to that of the 1980s.

The International Monetary Fund, IMF, has further downgraded Nigeria’s economic outlook for the rest of 2020 to -5.4 percent growth, worse than sub-Saharan Africa’s average of -3.2%.

By Babajide Komolafe The International Monetary Fund, IMF, has advocated $49 billion investment in Nigeria’s power sector to ensure adequate power supply for the country by 2030. The IMF stated this in a report on Nigeria titled, “Additional Spending towards Sustainable Development Goals”. The IMF said that while Nigeria has made some progress in terms […]

The International Monetary Fund (IMF) has disbursed US$10 billion to 27 countries in Sub-Saharan Africa to enable them to effectively respond to the COVID-19 pandemic.

The World Bank has approved a 1 billion dollars loan for Kenya to help it close a gaping budget deficit and tackle the economic shocks from the coronavirus pandemic, both sides said on Wednesday. The loan, initiated before the health crisis started, is the second-ever such direct lending for the budget from the World Bank […]

The IMF has cautioned the CBN against dollar rationing stressing that this will hamper foreign trade and investor confidence and thus slow down the nation’s economic recovery.

THE IMF has cautioned the CBN against dollar rationing stressing that this will hamper foreign trade and investor confidence and thus slow down the nation’s economic recovery.

Some of the commitments made by President Muhammadu Buhari’s administration to the International Monetary Fund (IMF) to be granted the $3.4 billion facility have emerged, with transparency in the utilization of the funds, topping the list.

Some financial experts have urged the federal government to use the loan approved by IMF for the purpose intended so as to help sustain the country’s economy.

Respected economic analyst and Professor of Finance and Capital Markets, Mr. Uche Uwaleke, Wednesday, faulted the Federal Government’s decision to borrow $3.4 billion under the Rapid Financing Instrument (RFI) of the International Monetary Fund, IMF, warning that it might plunge the country into a debt trap and jeopardize economic recovery efforts post the COVID-19 pandemic.

By Chimaobi Nwaiwu

THE leader of the Indigenous People of Biafra, IPOB, Mazi Nnamdi Kanu, yesterday, kicked against further lending by foreign lenders to the Nigerian government, saying it breaches the organic law of Nigeria.

South Africa’s Finance Minister Tito Mboweni said on Friday there was more than $4 billion available from the International Monetary Fund and World Bank to help South Africa fight the COVID-19 crisis. “We too are entitled to approach the IMF and World Bank for funding. The IMF has indicated that South Africa is entitled to […]

By Yinka Kolawole,  with agency reporters The executive board of the International Monetary Fund (IMF)  will meet next week Tuesday, April 28, to decide on Nigeria’s request for financial aid. Nigeria submitted a request for $3.4 billion under the IMF’s rapid financing instrument. The rapid financing instrument is a short-term facility that typically bears interest. […]

New sustainability plan almost ready Vice President Yemi Osinbajo is enlarging the pool of options open to Nigeria in achieving the Buhari Presidency plan to turn the current economic challenges to an opportunity for Nigerians, especially the “Common Man.” Today, the VP has met with representatives of the International Monetary Fund and the World Bank […]