Tag: IMF
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Christine Largarde formally bows out of IMF
The International Monetary Fund has now formally accepted the resignation of its managing director, Christine Lagarde, who has been appointed to head the European Central Bank. Her resignation notice will expire in September, the board announced, amidst an introspective conference in Paris on 75 years of Bretton Woods Agreement and the future. The agreement by…
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IMF boss, Christine Lagarde to take new appointment as President of European Central Bank
The Managing Director of International Monetary Fund (IMF), Ms. Christine Lagarde has temporarily relinquished her job at the fund for a likely appointment as president of European Central Bank. Lagarde who confirmed her nomination as president of the European Central Bank on Tuesday in a statement, she said: “I am honored to have been nominated…
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Mounting debt profile: FG snobs IMF’s warning, seeks fresh $247.3m external loan
The Federal Government on Wednesday finalised plans to request another fresh external loan of $247.3m despite mounting debt profile and initial warning by the International Monetary Fund (IMF) for the country’s leaders to avoid borrowing for now if possible. TheNewsGuru (TNG) reports that the country’s current debt stood at N24.38tn. The Federal Executive Council made…
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Disregard IMF’s advice on fuel subsidy removal, NUPENG, PENGASSAN tells FG
Workers in the oil and gas sector on Sunday advised President Muhammadu Buhari to shun any counsel that would destabilise or cause chaos in the economy. The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) gave the advice in a statement in Lagos. The…
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IMF expresses worry over rising numbers of IDPs in Nigeria
The International Monetary Fund (IMF) says it is concerned with the rising numbers of Internally Displaced Persons (IDPs) in Nigeria and other Sub-Saharan African countries. IMF said this on Friday in Washington DC in its latest Regional Economic Outlook for sub-Saharan Africa report presented by Director of the IMF’s African Department, Mr Abebe Selassie. According…
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FG reacts to IMF report ranking Nigeria ‘world’s second worst user of sovereign wealth funds’
The Federal Government on Friday reacted to the latest report by the International Monetary Fund (IMF) ranking Nigeria as the world’s second worst user of sovereign wealth funds. The Managing Director of the Nigeria Sovereign investment Authority (NSIA), Uche Orji, said the report was both “fundamentally flawed” and “laughable”. Recall that the IMF in its…
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Nigeria reacts as IMF insists on removal of fuel subsidy
The International Monetary Fund (IMF) Thursday repeated its age-long advice to Nigeria – remove fossil fuel subsidy and deploy savings from the scheme to fix social infrastructure. IMF Managing Director Christine Lagarde gave the advice at the opening of the ongoing World Bank/IMF Spring Meetings in Washington DC . She urged Nigeria to establish Social…
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IMF urges Nigeria to remove fuel subsidy
The International Monetary Fund (IMF) yesterday repeated its age-long advice to Nigeria – remove fossil fuel subsidy and deploy savings from the scheme to fix social infrastructure. IMF Managing Director Christine Lagarde gave the advice at the opening of the ongoing World Bank/IMF Spring Meetings in Washington DC . She urged Nigeria to establish Social…
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IMF cautions Nigeria, other countries against borrowing from China
The International Monetary Fund (IMF) has warned Nigeria and other emerging market countries taking loans from China to consider the terms of such facilities, especially their compliance with the Paris Club arrangements. Speaking Wednesday at the ongoing IMF/World Bank Spring Meetings in the United States, Director, IMF Monetary and Capital Markets Department, Tobias Andrian, said…
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![BREAKING: IMF ranks Nigeria second-worst in the world… [+ Infographic]](https://thenewsguru.ng/wp-content/uploads/2017/06/Naira-Dollar.jpg)
BREAKING: IMF ranks Nigeria second-worst in the world… [+ Infographic]
The IMF has ranked Nigeria as the second worst country in the world in the use of sovereign wealth funds– topping only Qatar while Ghana was ranked the best. According to the reports, transparency and corporate governance were some of the criteria used. The revelation was made in the Fiscal Monitor Report released on Wednesday…