Tag: IMF
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IMF projects six per cent growth for global economy
The International Monetary Fund (IMF) says the global economy is projected to grow at six per cent in 2021, moderating to 4.4 per cent in 2022. The April 2021 World Economic Outlook (WEO) was presented on Tuesday in Washington D.C. by Gita Gopinath, the fund’s Chief Economist at the ongoing IMF/World Bank Spring Meetings which…
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Nigeria missing as IMF grants debt pardon to 28 countries
Nigeria has been excluded from the list of 28 countries granted debt pardon by the Executive Board of the International Monetary Fund (IMF). TheNewsGuru.com, TNG reports that the Board has approved a third tranche of grants for debt service relief for 28 member countries under the Catastrophe Containment and Relief Trust (CCRT). This approval followed…
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IMF backs CBN on Cryptocurrency suspension
The International Monetary Fund (IMF) has confirmed some of the crypto currencies were being used for money laundering and drugs trafficking. This corroborates what the Central Bank of Nigeria (CBN) has been saying about Cryptocurrency transactions in the country. The IMF Resident Representative for Nigeria, Mr. Ari Aisen, made this known during a virtual press…
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Projected economic growth for Nigeria maybe hampered by continuous protests — IMF
Projected economic growth for Nigeria may not be realized on the strength of the #ENDSARS protests, the International Monetary Fund (IMF) has warned. The organization expressed concern over the protests “particularly ones that are difficult like the ones in Nigeria at the moment.” Responding to questions during the virtual IMF press conference on the regional…
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$3.4bn loan: Keep receipts of spending, IMF tells Nigeria
Kristalina Georgieva, Managing Director, International Monetary Fund (IMF) has advised the President Muhammadu Buhari-led federal government of Nigeria to keep receipts of spending of the $3.4bn emergency financial assistance. TheNewsGuru.com (TNG) reports Kristalina Georgieva, who gave the advice on Tuesday in an interview with CNBC Africa revealed that the IMF had already disbursed the $3.4bn…
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IMF officially disburses $3.4bn loan to Nigeria
The International Monetary Fund (IMF) has officially disbursed the $3.4bn emergency financial assistance to Nigeria, IMF Managing Director, Kristalina Georgieva has said. TheNewsGuru.com (TNG) reports the IMF chief made this known on Tuesday in an interview with CNBC Africa as the Coronavirus disease (COVID-19) continues to take tolls across the country. “Nigeria has been hit…
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BREAKING: IMF approves N1.325 trillion for Nigeria, largest COVID-19 emergency financial assistance given to date
The Executive Board of the International Monetary Fund (IMF) has approved the Rapid Financing Instrument (RFI) of $3.4bn, approximately N1.325 trillion for Nigeria. TheNewsGuru.com (TNG) reports the IMF Executive Board approved the N1.325 trillion loan on Tuesday, being the largest Coronavirus disease (COVID-19) emergency financial assistance given to date. Details shortly…
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IMF set to approve $3.4bn Covid-19 emergency funding for Nigeria
The International Monetary Fund (IMF) is expected to recommend the approval of $3.4 billion Covid-19 emergency funding for Nigeria as part of measures to cushion the impact of COVID-19 on the nation’s economy. According to Bloomberg, the IMF Executive Board will meet on Tuesday next week to review the request. The loan (Covid-19 emergency funding),…
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COVID-19: UN sounds alarm of global hunger
The number of people facing acute food insecurity could nearly double this year to 265 million due to the economic fallout of COVID-19, the UN World Food Programme (WFP) said on Tuesday. The impact of lost tourism revenues, falling remittances and travel and other restrictions linked to the coronavirus pandemic are expected to leave some…
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Nigeria, other developing economies lost $100b to COVID-19 pandemic – IMF
The International Monetary Fund (IMF) has said Nigeria, emerging markets and other developing economies have lost over $100 billion in portfolio flow reversals due to the COVID-19 pandemic. IMF Managing Director, Ms. Kristalina Georgieva, who stated this on Monday in a statement, said commodities-dependent countries have been further shocked by plummeting export prices, while tourism-dependent…