Posts Tagged ‘International Monetary Fund’

IMF: How Nigeria’s economic recovery was exposed as a mirage

In a twist that further upset the already fragile optimism in the International Monetary Fund’s (IMF’s) weak economic growth projection for 2020, initially put at 2.5%, the IMF on Monday revised its earlier forecast to 2%. The new outlook was the culmination of the organisation’s Article IV Consultation to Nigeria, a 15-day economic dialogue tour, led […]

Nigeria Heading Into Recession – IMF

The International Monetary Fund (IMF)  slashed its growth forecast for the Nigerian economy this year on Tuesday, saying a combination of plunging oil revenues and weakened investor confidence will push it into recession. The IMF said it expects Africa’s largest economy to contract by 1.8 percent this year, after having forecast in April a 2.3 […]

IMF Says Nigerian Economy will Shrink in 2016

The International Monetary Fund (IMF) has admitted that the Nigerian economy “will probably” shrink in 2016, performing below the IMF forecast for the country. Speaking in Abuja on Monday, Gene Leon, IMF resident representative in Nigeria, said energy shortages and delayed budget weigh on output in Africa’s largest economy. After contracting by 0.4 percent in the […]

Sub-Saharan Africa’s GDP to Surpass Nigeria in 2016 – IMF

Nigeria’s economy will be growing at a slower pace in 2016 than sub-Saharan Africa’s as a whole, the International Monetary Fund (IMF) said on Tuesday. After an extended period of strong economic growth, sub-Saharan Africa is set to experience its lowest economic growth rate in 15 years – yet the region’s growth will outpace Nigeria’s. According […]

IMF Boss Wants Buhari to Change Forex Policy

Christine Lagarde, managing director of the International Monetary Fund (IMF), says Nigeria’s economic situation is alarming, calling for a flexible exchange rate regime. Speaking on the World Bank/IMF special edition  of BBC’s HardTalk anchored by Stephen Sackur, Lagarde said Nigeria has huge potential, especially in her youth. Largade maintained that IMF was ready to help Nigeria, appealing […]

IMF: Buhari’s FX Policy Affecting the Economy

The International Monetary Fund (IMF) is happy with President Muhammadu Buhari’s “progress” with the fight against corruption and insurgency. In its staff report for the 2016 article IV consultation, the IMF however added that Buhari’s foreign exchange exchange restrictions were “significantly distorting the economy and weighing on economic activity”. “Policy uncertainty amplified the impact of global developments,” […]