Tag: IMF
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IMF retains projected economic growth of 3.4% for Nigeria
The International Monetary Fund (IMF) has retained projected economic growth of 3.4% for Nigeria in 2022, TheNewsGuru.com (TNG) reports. The Washington-based institution disclosed this in its World Economic Outlook (WEO) for July 2022, dubbed “gloomy and more uncertain”.
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CBN to introduce USSD code to improve eNaira
The Central Bank of Nigeria (CBN), says it is set to introduce the Unstructured Supplementary (USSD) code as part of steps to improve the Central Bank Digital Currency (CBDC).
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Nigeria’s public debt shoots to N39 trillion
The Debt Management Office (DMO), says Nigeria’s public debt as at December, 2021 is N39.55 trillion.
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Ukraine-Russia crisis to complicate Africa economy – IMF
Ms Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) says the war in Ukraine can have a devastating blow for Africa.
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eNaira may reduce deposits in commercial banks, IMF warns CBN
The International Monetary Fund has said the eNaira wallet may function as a deposit at the Central Bank of Nigeria and consequently reduce demand for deposits in commercial banks.
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IMF approves fresh round of debt relief for poor countries
The IMF has approved a fourth round of debt relief for 24 poor nations including new recipients Lesotho and Kyrgyzstan to help them weather the Covid-19 pandemic, according to a statement released Friday. The relief was provided under the Washington-based crisis lender’s Catastrophe Containment and Relief Trust (CCRT), which enables the IMF to provide grants…
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IMF expresses concerns over Nigeria’s unemployment, inflation rates
An International Monetary Fund (IMF) team on Thursday said that Nigeria’s economy was “gradually” recovering from the negative effects of the COVID-19 pandemic. IMF disclosed this in its End-of-Mission statement from its headquarters in Washington, DC, on preliminary findings following virtual meetings by its staff teams with the Nigerian authorities from June 1 to 8.…
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IMF to give Nigeria, other African countries $33bn out of $650bn Special Drawing Rights
The International Monetary Fund (IMF) Managing Director, Ms. Kristalina Georgieva, Monetary Fund (IMF), has assured African leaders of $33 billion from the expected Special Drawing Rights (SDR) of $650 billion. She gave the assurance on Tuesday in Paris, France at the African Finance Summit hosted by French President, Emmanuel Macron, on post COVID-19 recovery. Georgieva…
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FG to end fuel, electricity subsidies by mid-2021
Plans by the federal government of Nigeria to end both electricity and fuel subsidies by mid-2021 have been revealed. The Nigeria Natural Resource Charter (NNRC) revealed the plans on Sunday quoting an International Monetary Fund (IMF) report. According to NNRC, the report followed the conclusion of IMF’s Article IV consultation with Nigeria. According to the…