Tag: IMF
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Adeosun talks tough; tells World Bank, IMF, others to label tax evasion by Multinationals as foreign corrupt practices
The Minister of Finance, Mrs. Kemi Adeosun, has called for the designation of tax malpractices by Multinational Corporations in Nigeria and other developing countries as ‘foreign corrupt practices’. She made the call at the Platform for Collaboration on Tax (PCT) Conference in New York, which rounded up over the weekend. The PCT is an initiative…
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Nigeria’s economy still vulnerable despite recession exit – IMF
The International Monetary Fund (IMF) on Friday said that in spite of Nigeria exiting the recession, the economy of the country was still vulnerable. The IMF in a statement by Raphael Ranspach, its Media and Press Officer, welcomed the Federal Government’s actions to improve the power sector and business environment under the Economic Recovery and…
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Nigeria demands reform of IMF, World Bank
Nigeria has demanded the reform of the Bretton Wood Institutions to make them responsive to the needs of developing countries and also reflect the realities of the 21st century. The Minister of Foreign Affairs, Geoffrey Onyeama, stated this at the 41st Ministerial Meeting of the Group of 77 plus China (G77+China) on the sidelines of…
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IMF to grant Zambia $1.3bn to plug budget deficit
The International Monetary Fund (IMF) may grant Zambia up to 1.3 billion dollar to help plug a budget deficit of around 7 per cent, the lender’s mission chief said on Saturday. Tsidi Tsikata told a joint news conference with the Zambian Finance Ministry in Lusaka that a decision would be made by the IMF board…
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Recession: Sub-Saharan Africa economy to recover slightly in 2017 – IMF
Economic growth in sub-Saharan Africa should recover slightly to 2.6 per cent this year after a more than two-decade low in 2016 as commodity exporters face lower prices, the International Monetary Fund, IMF, said on Tuesday. The slight rebound will be driven by a recovery in oil production in Nigeria, higher public spending ahead of…
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EXCLUSIVE: IMF, World Bank conspiring to kill Nigeria’s economy – Boyo
…Says FG, CBN not sincere about strengthening the Naira Renowned economist and founder, Allied Technol Systems Limited, Henry Boyo, has found the World Bank and its sister organization, the International Monetary Fund, IMF, culpable in respect of Nigeria’s economic woes. Without mincing words, he names the Bretton Woods institutions guilty for their actions and inactions…
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We’ll do our bit to ensure famine, poverty is kicked out of Nigeria – World Bank, IMF
The World Bank and International Monetary Fund, IMF on Thursday said it will do everything possible to ensure famine and poverty is kicked out of Nigeria especially the Boko Haram crisis riddled North-East region. The President of World Bank, Jim Yong Kim said this in his opening remarks at the ongoing World Bank/International Monetary Fund…
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Naira overvalued by 20 per cent – IMF
The International Monetary Fund (IMF) has said that the Nigerian Naira is overvalued by about 10% to 20%. Gene Leon, who is IMF’s mission chief for Nigeria, stated this during a news briefing in Washington on Wednesday. He also said the Nigerian government, has acknowledged the the need for reforms and must implement them. “The…
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Don’t implement IMF’s tight monetary policy, LCCI warns FG
The Lagos Chamber of Commerce and Industry (LCCI) cautioned the Federal Government against implementing the tight monetary policy recommended for Nigeria by International Monetary Fund, IMF saying it is inconsistent with the economic recovery process. The warning was sounded by Mr Muda Yusuf, the Director-General of LCCI, in an interview with newsmen on Monday in…
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Germany says IMF plans to stay involved in Greek bailout talks
The managing director of the International Monetary Fund (IMF) has reassured German Finance Minister Wolfgang Schaeuble that IMF plans to remain constructively engaged in talks about aid for Greece, his spokesman said on Friday. The spokesman told newsmen at a regular government news conference during the World Economic Forum in Davos. “The IMF Managing Director,…