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N33.8trn Private Debt: States May Not Pay Salaries – IMF Warns

By Cyril Ogar World Bank has again expressed concerns over Nigeria government’s policies, warning that unless there are changes, things will remain unchanged. The International Monetary Fund IMF, has said rising private debt would slow economic recovery in Nigeria and

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IMF TO FG: Reduce Debt To Avoid ‘Disaster’

Public debt stands at N39.55 trillion in December 2021 Crude export falls from $80bn to $39bn in five years By Cyril Ogar International Monetary Fund has expressed concerns about a potential “doom loop” for Nigeria and other emerging economies. According to

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COVID-19: Africa Must Act Now To Stop Surge Of New Delta Variant – IMF

The only way for Sub-Saharan Africa to break free from the new vicious COVID-19 pandemic cycle is to swiftly implement a widespread vaccination programme, top executives of the International Monetary Fund (IMF) have advised. “Sub-Saharan Africa is in the grips

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Digital Money Can Facilitate Remittances – IMF

Mariam Sanni Kristalina Georgieva, Managing Director, International Monetary Fund (IMF) says the world is witnessing a revolution in digital money that can make remittances easier, faster and cheaper. She said this in Washington, D.C. during her opening remarks at the

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IMF Begins Search For New Director As Incumbent Retires

The International Monetary Fund (IMF) says it will begin its search for a replacement for Mr Andrew Tweedie, the Director of the Finance Department, who would be retiring from the post on July 31. A statement issued in Washington D.

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Nigeria, Other African Oil-exporting Countries To Lose $34bn To COVID-19 – IMF

By Charles Ebi  The economic shocks of the coronavirus pandemic through lockdowns and eternal vulnerabilities might trigger income loss of around $34 billion in Nigeria and other oil-exporting countries in Africa, the International Monetary Fund (IMF)’ . Abebe Aemro Selassie,

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Nigeria’s Portfolio Investment May Drop by $11.4bn IMF Predicts

By Charles Ebi  The International Monetary Fund (IMF) has projected that Nigeria’s portfolio investment may decline by at least $11.4 billion this financial year, as the coronavirus disease continues to take huge toll on the nation’s economy. In the report,

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IMF Approves $3.4bn To Support Nigeria’s Fight Against COVID-19

The International Monetary Fund (IMF) has approved the sum of $3.4 billion to support Nigeria’s COVID-19 fight. The assistance, facilitated via the Rapid Financing Instrument (RFI), will help limit the decline in Nigeria’s international reserves, the IMF said. It will

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COVID-19: Nigeria Faces Harsh Economic Times – IMF

By Cyril Ogar  The International Monetary Fund (IMF) Tuesday forecast that Nigeria’s Gross Domestic Product (GDP) would contract by 3.4% in 2020 after expanding by 2.2% last year. In its latest report on World Economic Outlook, the Washington-based institution noted

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COVID-19: 25 Poor Countries Get IMF Debt Relief

The International Monetary Fund on Monday announced immediate debt relief for 25 poor countries to help them free up funds to fight the coronavirus pandemic. “This provides grants to our poorest and most vulnerable members to cover their IMF debt

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