{"id":16168,"date":"2017-08-02T16:20:14","date_gmt":"2017-08-02T15:20:14","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=16168"},"modified":"2017-08-02T16:20:14","modified_gmt":"2017-08-02T15:20:14","slug":"nigerias-non-performing-loans-double-since-2015-says-imf","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nigerias-non-performing-loans-double-since-2015-says-imf\/","title":{"rendered":"Nigeria\u2019s non-performing loans have double since 2015, says IMF"},"content":{"rendered":"

The International Monetary Fund (IMF) says non-performing loans across Nigerian banks have increased by more than double since 2015.<\/p>\n

This was revealed by the IMF staff team, which visited Nigeria from July 20 to July 31, to discuss recent economic and financial developments, update macroeconomic projections, and review reform implementation.<\/p>\n

The team, led by Amine Mati, senior resident representative and mission chief for Nigeria at the IMF, said MPLs have grown from six percent in 2015 to 15 percent in 2017.<\/p>\n

\u201cPreliminary data for the first half of the year indicate significant revenue shortfalls, with the interest-payments to revenue ratio remaining high (40 percent at end-June) and projected to increase further under current policies,\u201d the statement by the team read.<\/p>

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\u201cHigh domestic bond yields and tight liquidity continue to crowd out private sector credit. Given Nigeria\u2019s low growth environment and the banking system\u2019s exposure to the oil and gas sector, non-performing loans increased from 6 percent in 2015 to 15 percent in March 2017 (8 percent after excluding the four undercapitalized banks).\u201d<\/p>\n

The team also said \u201chelped by favorable base effects, headline inflation decreased to 16.1 percent in June 2017, but remains high despite tight liquidity conditions\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

The International Monetary Fund (IMF) says non-performing loans across Nigerian banks have increased by more than double since 2015. This was revealed by the IMF staff team, which visited Nigeria from July 20 to July 31, to discuss recent economic and financial developments, update macroeconomic projections, and review reform implementation. The team, led by Amine …<\/p>\n","protected":false},"author":6,"featured_media":15888,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[573],"coauthors":[2391],"class_list":["post-16168","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-imf"],"yoast_head":"\nNigeria\u2019s non-performing loans have double since 2015, says IMF - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/nigerias-non-performing-loans-double-since-2015-says-imf\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria\u2019s non-performing loans have double since 2015, says IMF - National Wire\" \/>\n<meta property=\"og:description\" content=\"The International Monetary Fund (IMF) says non-performing loans across Nigerian banks have increased by more than double since 2015. 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