Browsing: IMF

His largely unconventional approach has its benefits, especially with the rapid – sometimes unforeseen – changes in the global financial system and the beggar thy neighbour policies of rich, industrialised countries. But the recent announcement by the bank of a two-month sales promotion to boost the inflow of dollars also shows that the road to hell can be paved by good intentions.

The central government has hinted to fund the budget from other means apart from oil which is the country’s economic mainstay. There is even a discussion by the government to commence the sale of assets in ten state owned corporations, a move that will generate about $800milion dollars. There is the urgent need for us to cut our coat to our sizes. If you cut your coat according to your situation, you limit what you do to the account of your resources. Action should suit circumstances or resources. Is there any need for us to sustain the bicameral system of legislature we are operating now?

Let us remember that investments and businesses were the first to take the Corona Virus hit. From Asia to Europe to the United States and everywhere, stocks crashed. In the month of March alone, the Nigerian Stock Exchange lost over a trillion Naira