IMF approves immediate debt relief for 25 countries
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).
Coronavirus could damage global growth in 2020 ― IMF
The coronavirus epidemic could damage global economic growth this year, the IMF head said Sunday, but a sharp and rapid economic rebound could follow. “There may be a cut that we are still hoping would be in the 0.1-0.2 percentage space,” the managing director of the International Monetary Fund, Kristalina Georgieva, told the Global Women’s […]
IMF affirms 2.5% growth forecast for Nigeria’s economy in 2020
The International Monetary Fund, IMF, yesterday reiterated its forecast that Nigeria’s economy, as measured by the Gross Domestic Product (GDP), will grow by 2.5 percent in 2020.
IMF ranks Benin Republic 4th most prosperous economy in Africa
The International Monetary Fund, IMF, has ranked Benin Republic as the fourth most prosperous economy in Africa. The IMF said the West African country has a growth rate of 7.6 per cent compared to 6.7 per cent in 2018.
CBN, IMF disagree over impact of forex restrictions on FDI inflow
Apex bank wants FG to sustain border closure By Emeka Anaeto and Babajide Komolafe The Central Bank of Nigeria (CBN), yesterday disagreed with the position of the International Monetary Fund (IMF) on the impact of the foreign exchange (Forex) restrictions on Foreign Direct Investment (FDI) inflow into the country. CBN Governor, Mr Godwin Emefiele, while […]
Why IMF `supports’ Nigeria’s border closure ― minister
The Minister of Finance, Mrs. Zainab Ahmed, says the International Monetary Fund (IMF) “supports’’ Nigeria’s closure of its land borders because it understands the action is not punitive. Addressing newsmen in Washington on Sunday, Ahmed explained that the measure was intended to restore Nigeria’s relationship with its neighbours based on commitments made. She said that […]
Border closure: IMF tacitly backs Nigeria, urges speedy resolution of issue
The International Monetary Fund (IMF) has expressed tacit support for the closure of Nigeria’s land borders to its neighbours over issues bordering on illegal trade.
BREAKING: FG secures $3bn World Bank loan for power sector ― Ahmed
By Babajide Komolafe The Minister of Finance, Zainab Ahmed, has revealed that the Federal Government has successfully secured the loan of $3 billion for the power sector. Ahmed, disclosed this while addressing the press on the outcome of the just-concluded annual meeting of the World Bank and the International Monetary Fund (IMF). ALSO READ: FG […]
Border closure: IMF backs Nigeria
The International Monetary Fund (IMF) has backed Nigeria’s closure of its borders with some neighbouring countries over issues bordering on illegal trade.
Border Closure: IMF backs Nigeria, urges speedy resolution of issue
The International Monetary Fund (IMF) has backed Nigeria’s closure of its borders with some neighbouring countries over issues bordering on illegal trade. Mr Abebe Selassie, the Director of the African Department at the IMF, gave the position at a media briefing on the sidelines of the World Bank/IMF Annual Meetings in Washington. He was responding […]
Arbitrage: CBN directs banks to reverse loan funded TB transactions
Warns against circumvention LDR directive By Emeka Anaeto & Babajide Komolafe The Central Bank of Nigeria (CBN) has directed banks to reverse customers’ investments in treasury bills funded with loans, describing the practice as arbitrage and circumvention of its 65 per cent loan-to-deposit ratio (LDR). Recall that the CBN in an attempt to increase lending to […]
