IMF Doubts Nigeria’s Capacity To Repay Debts

The International Monetary Fund on Monday expressed concern over Nigeria’s capacity to repay its debts and stressed the need for the Federal Government to mobilise more revenues domestically. The Washington-based fund, at the public presentation of the Spring 2018 Issue of the Regional Economic Outlook for Sub-Saharan Africa, said the public debt in the region […]

Rising Debt May Hurt Nigeria, Others, IMF Warns

The International Monetary Fund (IMF) Tuesday. warned that Nigeria and other debtor nations may run into more troubles with repayment as the global debt levels are becoming unsustainable. This is even as the Fund warned that voters’ disillusionment could raise the threat of political developments that could destabilise a range of economic policies in the future, […]

Trade War Will Harm Global Growth, IMF Chief Warns

The head of the International Monetary Fund warned Wednesday that a trade war US President Donald Trump apparently intends to provoke with tariffs on steel and aluminium would snuff out global growth. “If international trade is called into question by these types of measures, it will be a transmission channel for a drop in growth, […]

International_Monetary_Fund_logo.svg

Nigeria’s Economy Vulnerable, Its Recovery Challenging—IMF

Tayo Olanipekun Apart from the growth witnessed in its oil and agricultural sectors, Nigerian economy did not grow in the first three quarters of this year, making the recovery of Africa’s largest economy challenging, the International Monetary Fund (IMF) has said. This is as it also noted that difficulties in accessing financing and high inflation […]

International_Monetary_Fund_logo.svg

Nigeria Still Investors Destination – IMF

Monetary and regulatory authorities in Nigeria have been enjoined to roll out policies that would bring down the inflation rate in the country as well as increase access to domestic funds in order to ensure that the economy attains further growth in 2018, adding that Nigeria is still an investor’s destination. The call was made […]

IMF

IMF: Debt Service May Consume 60% of Govts’ Revenues

The International Monetary Fund (IMF) has warned that Nigeria and other oil producing countries in Africa may be overburdened with the high cost of debt servicing. It said such costs are expected to absorb over 60 per cent of governments’ revenues this year in Nigeria, Angola and Gabon. Public debt, the IMF said, rose above 50  per […]

International_Monetary_Fund_logo.svg

IMF Wants Nigeria To Stop Tax Holidays

The International Monetary Fund has advised the Federal Government to urgently revisit tax holidays and exemptions given to companies. It specifically urged Nigeria to implement a reform that would see it phase out tax holidays and exemptions eroding the Company Income Tax base. Successive governments had granted controversial tax holidays and waivers, which were described […]

Lagarde Christine

Why IMF is fighting corruption- Lagarde

The International Monetary Fund (IMF) is joining the fight against corruption because the vice undermines the ability of states to deliver inclusive growth and lift people out of poverty, its Managing Director, Christine Lagarde, has said. Ms. Lagarde, who spoke in Washington, DC, at an event entitled, ‘Addressing corruption with clarity,’ and hosted by Brookings […]

International_Monetary_Fund_logo.svg

Nigeria’s non-performing loans have double since 2015, says IMF

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 […]