Tag: IMF
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Nigeria’s economic recovery still challenging – IMF
The International Monetary Fund (IMF) says Nigeria’s economic outlook for 2018 remains challenging as private sector lending remains low and foreign exchange inflows are mostly short-term. IMF in a statement issued in Washington on Friday by Lucie Fouda, the Fund’s Press Officer, said higher oil prices and portfolio flows had helped strengthen fiscal and external…
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Privacy breaches: IMF to press lawsuit against Facebook
Litigation funder IMF Bentham Ltd. is preparing to potentially sue social media giant Facebook Inc. in Australia over its sharing of users’ data with political consultancy Cambridge Analytica. The world’s largest social network said in April that data of up to 87 million people ended up in the hands of Cambridge Analytica, which was employed…
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IMF expresses worry over Nigeria’s rising debt profile
The International Monetary Fund, IMF on Monday cautioned the federal government over its rising external debt profile. The Fund also expressed concern over the federal government’s capacity to service the debts while stressing the need to mobilise more revenues domestically. The Washington-based fund, at the public presentation of the Spring 2018 Issue of the Regional…
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Nigeria’ll sustain positive growth outlook — Adeosun, Emefiele
The Minister of Finance, Mrs Kemi Adeosun and the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, affirmed on Sunday that the country’s positive growth outlook would be sustained. The Minister and the CBN Governor gave this assurance at a joint press briefing at the end of the 2018 International Monetary Fund (IMF)…
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Senate working to grow digital financial technology in Nigeria – Saraki
President of the Senate, Bukola Saraki, on Thursday said that the Senate is working to ensure the growth of digital financial technology (FinTech) popularly known as digital financing in Nigeria. Saraki, according to a statement by his Chief Press Secretary, Sanni Onogu, in Abuja, stated this in his address before the Africa Finance Forum, organized…
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IMF condemns Nigeria’s $21.72tr debt profile
The International Monetary Fund (IMF) on Wednesday said Nigeria’s $21.72 trillion ($70.99 billion) public debt profile constitutes a direct risk to the country’s financial stability. The IMF’s Financial Counselor and Director of the Monetary and Capital Markets Department, Tobias Adrian made the disclosure during the Global Financial Stability report presentation at ongoing IMF/World Bank Spring…
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Nigeria’s economy to grow by 2.1 per cent before year end – IMF
Nigeria’s economy which grew by 0.8 per cent in 2017 will end this year, with a 2.1 per cent growth, the International Monetary Fund (IMF) has predicted. It, however, projected a slow down to 1.9 per cent growth next year, in its latest World Economic Outlook (WEO) Report launched in Washington DC, United States where…
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Adeosun, Emefiele represent Nigeria at IMF/World Bank meeting
The Minister of Finance, Mrs Kemi Adeosun and Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, left Nigeria for Washington DC on Sunday to join other economic experts from around the world to discuss issues affecting global economy. Discussions would take place under the auspices of the World Bank Group and the International Monetary Fund…
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IMF lauds Nigeria for strong foreign exchange reserves, exiting recession
The International Monetary Fund (IMF) on Wednesday welcomed Nigeria’s exit from economic recession and lauded its strong recovery in foreign exchange reserves. IMF said this in a report released on Wednesday in Washington DC by its Executive Board after the conclusion of Article IV Consultation with Nigeria. According to the report, the Executive Directors of…
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More Nigerians getting poorer under Buhari govt – IMF
The International Monetary Fund has said more Nigerians have gotten poorer under the President Muhammadu Buhari government despite the country’s slow recovery from recession. In a report released yesterday, the IMF said Nigeria needs urgent economic reforms. It identified risks to growth, including additional delays to implementing policies and reforms ahead of the 2019 elections,…