•Containers seen in a port The International Monetary Fund (IMF) has cut its forecast for Nigeria’s economic growth in 2024 to 3.1 per cent. The downgrade is contained in a newly released report ‘in the July 2024 World Economic Outlook’ published yesterday. The IMF cited a weaker growth recorded in the first quarter of the […]
•Tinubu As Nigeria secures a $2.5 billion loan from the International Monetary Fund (IMF) to meet its financial needs, there is discomfort in some quarters. Despite the naira’s depreciation, the loan must be repaid in Western currencies, and since repayments do not start until 2034 — long after the current politicians have left office — [&hell...
The International Monetary Fund has advised Nigeria to ask global crypto trading platforms to register or obtain licenses to operate in the country, subjecting them to regulatory requirements. This recommendation was made in the IMF’s latest staff report, released on yesterday, following the conclusion of its 2024 Article IV consultation with ...
•Falana, SAN Human rights lawyer, Femi Falana, has accused the federal government of pandering to the whims and caprices of the International Monetary Fund (IMF) and the World Bank following a hike in electricity tariff. Falana claimed that the move is a policy imposed on the Nigerian government by the Bretton Wood institutions. “The Honourabl...
A new Analytical Report (AR) of the International Monetary Fund (IMF) has fingered the European Union, China and the US as notorious disruptors of global trade using subsidies and grants as the fulcrum. The report titled, “The Return of Industry Policy,” was presented Messrs Lorenzo Rotunno and Adam Jakubik of the Strategy, Policy and Review [...
Mixed reactions have trailed the confirmation by the International Monetary Fund (IMF) that the federal government has resumed the payment of subsidies on the premium motor spirit (PMS), otherwise known as petrol through the backdoor. Recall that during his inauguration on May 29, 2023, President Bola Tinubu announced an end to petrol subsidy,...
The International Monetary Fund, IMF, sees a greater risk to the global economy if central banks start cutting interest rates too soon than if they move “slightly” too late, Managing Director Kristalina Georgieva said yesterday. The US Federal Reserve, the European Central Bank (ECB) and others have held interest rates elevated in recent month...
The International Monetary Fund, IMF has downgraded its forecast for Nigeria’s 2024 economic growth to 3.0 per cent. This represents one percentage point below the growth forecast of 3.1 percent made in October 2023. The IMF announced the downgrade in its World Economic Outlook update in January 2024 released today, reports Vanguard. The IMF a...
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