IMF
NLC slams IMF for fuel subsidy removal denial
The Nigeria Labour Congress has criticised the International Monetary Fund for its denial of responsibility regarding the Nigerian government’s recent removal of subsidy on petrol. The congress describes the denial as cynical and emblematic of the IMF and World Bank’s longstanding pattern of imposing harsh economic policies on developing nations. In a statement on Sunday, […]
Subsidy Removal, Tinubu’s Decision – IMF
…Says external debt to reach 25% of GDP in 2025 The International Monetary Fund (IMF) has said it did not advise the Nigerian government to remove fuel subsidy, as that was a decision taken by President Bola Tinubu. The Fund also said that Nigeria’s external debt will reach 25 per cent of the Gross Domestic […]
IMF Downgrades Nigeria’s 2024 Growth Forecast To 3.1%
The International Monetary Fund (IMF) has downgraded Nigeria’s 2024 economic growth forecast to 3.1 per cent, down from 3.3 per cent previously estimated. This adjustment, detailed in the latest World Economic Outlook, reflects weaker-than-expected economic activity in the first quarter of the year. The IMF highlighted that this revision also impacts the broader Sub-Saharan Africa […]
Ghana secures additional $600m IMF facility
The International Monetary Fund (IMF) has completed the 2023 Article IV consultation and the first review of Ghana’s 36-month extended credit facility arrangement, with the approval of the first review paving the way for immediate disbursement of SDR 451.4 million, about $600 million. The IMF stated that Ghana’s performance under the programme has been strong […]