The bureau’s “Nigerian Domestic and Foreign Debt’’ Q2 2018 report released in Abuja, said the country’s domestic debt stood at N3.48trillion.
Browsing: IMF
The sober assessment comes as African countries continue to tap international debt markets and issue record levels of debt in foreign currencies, spurred on by insatiable investor demand for yields.
The duo replied the Emir of Kano, Alhaji Muhammadu Sanusi, and gave reasons for their absence at the summit
This development has drawn the ire of the Emir of Kano, Muhammadu Sanusi II, who lambasted the ministers for missing the meeting
The IMF Financial Counselor and Director of the Monetary and Capital Markets Department, Tobias Adrian, disclosed this during the Global Financial Stability report presentation at the ongoing IMF/World Bank Spring meetings in Washington.
According to its latest World Economic Outlook Report launched in Washington DC on Tuesday, the Fund projected that Nigeria will also grow by 1.9 per cent in 2019.
Muda Yusuf, Director-General, LCCI, said this in an interview with the News Agency of Nigeria on Tuesday in Lagos.
IMF said this in a report released on Wednesday in Washington DC by its Executive Board after the conclusion of Article IV Consultation with Nigeria.
Monique Newiak, IMF Economist, Western 1 Division, Africa Department, disclosed this on Tuesday in Abuja when she led a delegation of the IMF team to the Minister of Labour and Employment, Senator Chris Ngige, in his office.
Nigeria’s position on renewable energy and regional integration was presented by the Minister of Finance, Kemi Adeosun, during the G24 Finance Ministers and Central Bank Governors meeting in Washington DC, United States.
Gerry Rice, IMF spokesperson, said: “On October 20, 2016, Zimbabwe settled its overdue financial obligations to the Poverty Reduction and Growth Trust of the IMF. Zimbabwe had been in continuous arrears since 2001
He identified the exchange rate as the nation’s problem as well as what should be done to make the economy thrive.
Okunronmu said: “Nigeria is not really in crisis if the Federal Government can open its eyes and do the right thing by looking inwardly in solving our problem
The IMF said it trimmed its outlook for global economic growth through 2017 due to economic uncertainty in the wake of last month’s vote for Britain to leave the EU
Nigeria’s stall and sluggish activity in the number two economy, South Africa, is expected to pull down economic growth across sub-Saharan Africa, the IMF said, forecasting a dramatic implication
The fund said on Tuesday in Johannesburg, South Africa during the presentation of its African Economic Outlook that this was as a result of a slump in commodity prices, the Ebola virus outbreak and drought
In a just concluded Article IV Consultation with Nigeria on March 30, the IMF Executive Board welcomed renewed effort to adopt legislation to spur investment in the oil and gas sector and promote policies to strengthen governance of the sector
Lagarde, who called for an increase in Nigeria’s VAT, also explained that 40 per cent of fuel subsidies in developing countries, Nigeria inclusive, accrued to the richest 20 per cent of households, while only seven per cent of the benefits go to the poorest 20 per cent
This warning is informed by our bitter past experience with the financial body. Our country is already in dire state and cannot cope with the IMF’s characteristic shylock conditionalities attached to its credit facilities, and must not accept same if that is what the visit is about.
Adeosun told State House correspondents that IMF wanted to understand what the economic team was doing and to share ideas with them on how best to run the country’s economy
“We are not into programme negotiations and frankly at this point in time, given the determination, resilience displayed by the President and his team, I don’t see why an IMF programme will be needed