Lagarde Quits As IMF MD, Heads ECB

Tayo Olanipekun Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has resigned from her position as the Brenton Woods institution boss, effective from September 12. This follows her nomination as the European Community Bank (ECB) President last month, leading to the relinquishment of her roles before now as the IMF MD. David Lipton […]

No Plan To Remove Fuel Subsidy—Finance Minister

Tayo Olanipekun, Washington DC Nigeria does not have any “imminent” plan to remove fuel subsidy as there are currently no buffers to cushion the effect of such action, Minister of Finance, Zainab Ahmed, has said. The Minister said this in Washington DC Sunday morning during a briefing with journalists on the sidelines of the World […]

Nigeria Must Pursue Reforms To Tackle Sluggish Growth

Tayo Olanipekun, Washington DC The International Monetary Fund (IMF) has said Nigeria is one of about 24 resource-dependent economies facing sluggish growth and slower improvements in standards of livings and thus needs to pursue reforms to facilitate economic diversification. Speaking on Friday at the ongoing Spring Meetings of the Fund during the Regional Economic Outlook […]

Africa Will Be Home To 9 Out Of 10 Poor People By 2030—World Bank

**Says 17 African Countries At High Risk Of Debt Distress Tayo Olanipekun, Washington DC By 2030, nearly nine in 10 extremely poor people will be Africans, and half of the world’s poor will be living in fragile and conflict-affected settings, the World Bank has said. Speaking on Thursday in Washington DC during the opening press […]

Nigeria Must Increase VAT And Excise Taxes, IMF Insists

Tayo Olanipekun, Washington D.C Nigeria must embark on a comprehensive tax reform to “sustainably increase its non-oil revenue” considered to be among the lowest in ratios to GDP in the world, the International Monetary Fund (IMF) has said. The nation has important development needs “big time” and with its non-oil revenue to GDP at around […]

Poverty Will Increase In Nigeria By 2030—World Bank

**Nigerian Senator Disagrees, Says $1 Can Feed A Nigerian Daily Tayo Olanipekun, Washington DC Of the five countries known to be home to half of world’s poor people, Nigeria and the Democratic Republic of Congo (DRC) will see increased poverty in the next 10 years, the Interim President of the World Bank Group, Kristalina Georgieva, […]

Unlimited Opportunities: Creating More Jobs for Young People in Emerging Market and Developing Economies

By Christine Lagarde and John Bluedorn “To define is to limit,” Oscar Wilde once said. But sometimes economists need to use definitions to see the scope of a problem and find ways to lift the limits to success. This is especially true for young people in emerging markets and developing economies. We know that young […]

IMF Forecasts ‘Gathering Storm’ For Global Economy

One of the International Monetary Fund’s top officials warned on Tuesday that “storm clouds” were gathering over the global economy. IMF First Deputy Managing Director, David Lipton, said that governments and central banks might not be well equipped to cope. Lipton said that the fund had been urging governments to “fix the roof” during a […]

IMF To Nigeria: Increase Non-Oil Revenue

Nigeria should explore ways of increasing revenue outside its traditional base of oil proceeds, the International Monetary Fund (IMF) has said. Speaking during a press briefing at the on-going 2018  IMF/World Bank Meetings in Bali, Indonesia, IMF’s Deputy Director, Fiscal Affairs Department, Paulo Mauro, explained that there is an issue of how  to increase Nigeria’s […]