Tag Archives: IMF

Economic growth in sub-Saharan Africa should recover slightly to 2.6 per cent this year after a more than two-decade low in 2016 as commodity exporters face lower prices, the International Monetary Fund said on Tuesday. The slight rebound will be driven by a recovery in oil production in Nigeria, higher public spending ahead of elections in Angola, and the fading …

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The International Monetary Fund on Thursday urged the Federal Government to lift the remaining foreign exchange restrictions and scrap the system of multiple exchange rates in order to revive the Nigerian economy. The recommendation came in the Washington-based fund’s regular assessment of Nigeria’s economy. The report came on the heels of a recent visit by a team of the IMF …

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Former IMF chief Rodrigo Rato was handed a jail sentence of four years and six months Thursday for misusing funds when he was the boss of two Spanish banks. Spain’s National Court, which deals with corruption and financial crime cases, said he had been found guilty of “embezzlement” when he headed up Caja Madrid and Bankia, at a time when …

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The Sub-Saharan Africa recorded the lowest economic growth in 2016, the lowest in 20 years, the Managing Director of the International Monetary Fund (IMF), Ms Christine Lagarde said on Friday. Lagarde, who made the remarks in her speech: “Becoming the Champion: Uganda’s Development Challenge” in Kampala, said the sub-region’s economy grew in 2016 at about 1.5 per cent “Sub-Saharan Africa’s …

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  AfDB says African economies through the worst of downturn .Economies are resilient, growth seen accelerating: Adesina African economies are probably through the worst of their downturns and growth should accelerate next year, driven by investments in infrastructure and attempts to diversify from commodities, according to the African Development Bank. The continent’s growth rate may be around 3.5 percent this …

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  South African economy has regained the position of Africa’s largest in dollar terms, as the value of the nations’ currencies moved in opposite directions, this is coming barely two years after losing it to Nigeria. According to Bloomberg report, based on GDP at the end of 2015 published by the International Monetary Fund (IMF), the size of South African’s …

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FRIDAY EKEOBA Barring any monumental change in the domestic economy, the Minister of Finance, Mrs Kemi Adeosun,Thursday assured Nigerians that the nation would only face a short recession if the nation’s economy contracts again in the second quarter as the removal of fuel subsidies and policies to lower dependency on oil will pay off. It would be recalled that the International Monetary Fund (IMF) …

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The International Monetary Fund lowered its world growth estimates for 2016 and 2017 on Tuesday, citing the negative impact of Britain’s vote to quit the European Union. Here are the IMF’s new forecasts for percent growth of gross domestic product, with the change in percentage points from April in parentheses. Country/region 2016 2017 World 3.1 (-0.1) 3.4 (-0.1) Advanced economies …

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International ratings agency, Fitch ratings has said Frontier Markets most especially in Africa are at risk in the last quarter of the year on the background of dwindling commodities prices and political crisis that has disrupted economy. The agency noted that the fall in global oil prices and insecurity were the main drivers for the downward trend in frontier market …

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