Tag: IMF
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IMF endorses $1.1bn budget to back Ukraine
The IMF’s executive board approved a $1.1 billion payout for Ukraine on Friday, which it says will be used to provide budget support to the war-torn country. The loan disbursal is the latest tranche of funding the International Monetary Fund has released to Ukraine as part of an ongoing 4-year, $15.5 billion program approved last…
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IMF lowers borrowing costs by 36%
The Executive Board of the International Monetary Fund (IMF) has approved to lower the IMF’s borrowing costs for members by 36 per cent, or about 1.2 billion dollars annually.
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The oppressors who love the oppressed – By Owei Lakemfa
IT is bizarre. The International Monetary Fund, IMF, calling on the government to protect the poor from the impact of the fuel price hikes it engineers! To add to its criminal thought process against the Nigerian people, the same IMF is telling
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Nigeria’s public policy gambles – By Dakuku Peterside
In July 1986, Nigeria’s military president, General Ibrahim Babangida, launched a public policy initiative hailed as the silver bullet for Nigeria’s distressed economy: the Structural Adjustment Programme (SAP). A local adaptation of an IMF/World Bank initiative, SAP was intended to stabilise the economy. However, within a year of its implementation, the programme had left a trail of hunger,…
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IMF downgrades Nigeria’s economic growth projection to 3.1 percent
The International Monetary Fund (IMF) has revised downward by 0.2 percentage points from 3.3% to 3.1% in its economic growth projection for Nigeria.
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IMF cuts Nigeria’s economic growth forecast to 3.1%
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 Tuesday. The IMF cited a weaker growth recorded in the first quarter of the year, Q1’24 as reason for…
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IMF urges FG to discontinue electricity subsidy
The Nigerian government has been advised by the International Monetary Fund (IMF) to eliminate what it has described as hidden subsidies on fuel and electricity.
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Nigerian economy to drop to fourth largest in Africa – IMF
International Monetary Fund (IMF) has forecast that the Nigerian economy will drop to fourth place this year after a series of currency devaluations. The IMF’s World Economic Outlook as reported by Bloomberg, put Nigeria’s gross domestic product at $253 billion based on current prices this year, behind North African powerhouses Algeria at $267 billion, Egypt…
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Inflation to further drop in 2024 – IMF
The International Monetary Fund (IMF) says inflation is easing faster than expected but has not been fully defeated.
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World Bank and IMF: In the shadow of their talons – By Owei Lakemfa
THE American World Bank and the Europe an International Monetary Fund, IMF, have in the past few weeks circled round Nigeria like vultures waiting for the prey to die. The twin organisations have become more active and quite audacious since President Bola Ahmed Tinubu