Tuesday, October 15, 2019

Tag "Christine Lagarde"

    Lagarde resigns as IMF managing director

Lagarde resigns as IMF managing director

Christine Lagarde has resigned as the managing director of International Monetary Fund (IMF).In a statement released on Tuesday, Lagarde said her resignation will be effective from September 12.The 63-year-old was appointed to lead the Bretton Wood institution in 2011.She got re-elected for a second term in 2016."I have met with the Executive Board and submitted my resignation from the Fund [...]

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    We will implement subsidy removal gradually, says Zainab Ahmed

We will implement subsidy removal gradually, says Zainab Ahmed

Zainab Ahmed, the minister of finance, says the federal government will implement fuel subsidy removal gradually.Addressing the press on the sidelines of the ongoing spring meetings of the International Monetary Fund and World Bank Group, Ahmed said fuel subsidy cannot be removed at once.In her address on Thursday, Christine Lagarde had advised Nigeria and other countries to remove fuel subsidy [...]

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    Lagarde: How to sustain Ghana’s leadership position in W’Africa

Lagarde: How to sustain Ghana’s leadership position in W’Africa

Christine Lagarde, managing director of the International Monetary Fund (IMF), has prescribed ways in which Ghana can maintain its position as a leader in West Africa.Lagarde, who just concluded a two-day visit to Ghana said the “IMF will remain fully engaged in Ghana’s ongoing efforts to foster prosperity and opportunities for all".She said with "credible and sustainable policies will support [...]

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    IMF: World debt at all-time high… an average of $86k owed per person

IMF: World debt at all-time high… an average of $86k owed per person

The International Monetary Fund (IMF) says the world's debt has hit an all-time record of $184 trillion, an upward swing from the $182 trillion reported last week.The figure represents an average of $86,000 debt owed per person, according to a statement issued by Ting Yan, press officer at IMF, on ‘Global Debt Database (GDD) Update’.“Today, the International Monetary Fund updated [...]

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    IMF recommends ways of boosting Nigeria’s revenue

IMF recommends ways of boosting Nigeria’s revenue

The International Monetary Fund (IMF) has suggested ways that Nigeria can boost its revenue outside crude oil to reduce the country's reliance on lending.Speaking at her maiden press conference for the ongoing annual meetings of the IMF and World Bank Group, Christine Lagarde, IMF managing director, recommended a tight monetary policy."I would certainly start with a tight monetary policy, higher [...]

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    Nigeria among bottom seven in World Bank’s first ever Human Capital Index

Nigeria among bottom seven in World Bank’s first ever Human Capital Index

Nigeria has been ranked 152 out of 157 countries in the first-ever Human Capital Index released by the World Bank Group.Unveiling the report on Thursday at the ongoing annual meetings of the World Bank Group and International Monetary Fund (IMF) in Bali, Jim Yong Kim, World Bank president, said educational outcomes from Nigeria are too poor."Nigeria, unfortunately, ranks 152 out of [...]

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    Follow TheCable as Zainab Ahmed replaces Adeosun at 2018 IMF/WBG meetings

Follow TheCable as Zainab Ahmed replaces Adeosun at 2018 IMF/WBG meetings

After echoes from the 2018 Spring meeting of the International Monetary Fund and the World Bank Group advising countries to invest in human capital, world leaders and economic experts have gathered again to discuss ways of helping countries build a forte.Countries across the world are looking to build forte against natural disasters and financial crisis.The business and finance world will [...]

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    Amina Mohammed: Okonjo-Iweala helped get Nigeria out of debt, but we are back there

Amina Mohammed: Okonjo-Iweala helped get Nigeria out of debt, but we are back there

Amina Mohammed, the deputy secretary-general of the United Nations (UN), says Ngozi Okonjo-Iweala, two-time minister of finance, spent years to get Nigeria out of debt, but the country is now back to worrying levels of debt. Speaking at the International Monetary Fund (IMF) and the UN Working Together Conversation monitored by TheCable on Tuesday, the former minister of environment in Nigeria [...]

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    Corrupt people use NGOs as a front, says Okonjo-Iweala

Corrupt people use NGOs as a front, says Okonjo-Iweala

Ngozi Okonjo-Iweala, chairman of the Global Alliance for Vaccine and Immunization (GAVI), says corrupt people use non-governmental organisations (NGOs) as cover to get a clean bill of health on transparency.The economist, who is Nigeria's former minister of finance, made this statement while speaking on a panel at the annual meeting of the International Monetary Fund (IMF) and World Bank in [...]

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    Adeosun: Luxury tax will commence soon — rich people must bear the burden

Adeosun: Luxury tax will commence soon — rich people must bear the burden

Kemi Adeosun, minister of finance, says the federal government will soon start collecting luxury taxes.Addressing journalists at the annual meetings of the World Bank and International Monetary Fund (IMF) in Washington DC on Sunday, Adeosun said people with higher income must bear a greater part of the tax burden."The luxury tax planned by the federal government is being finalised now because [...]

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    IMF: Nigeria’s economy not growing like its population

IMF: Nigeria’s economy not growing like its population

Christine Lagarde, managing director of the International Monetary Fund, says the economy of some West African nations, including Nigeria, is not growing at the same rate as its population.She made this statement on Thursday while addressing the press at the ongoing International Monetary Fund annual meetings holding in Washington."Sub Saharan Africa (which Nigeria is part of one) is one region [...]

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    Follow TheCable for updates on World Bank/IMF meetings

Follow TheCable for updates on World Bank/IMF meetings

The world has to remain strong amidst threats posed by climate change, terrorism and commodity prices.Nigeria and other countries of the world are looking towards agriculture, financial technology, manufacturing, gender equality and increasing tax revenues to combat these threats.The business and finance world — led by the World Bank and the International Monetary Fund (IMF) — will be converging on [...]

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    Amina Mohammed: Gender equality will add $30trn to GDP annually

Amina Mohammed: Gender equality will add $30trn to GDP annually

Amina Mohammed, deputy secretary general of the United Nations (UN), says investing in gender equality will add over $30 trillion to global gross domestic product (GDP) per year.Speaking at the International Monetary Fund (IMF) meetings in Washington, Mohammed said it makes business sense to add women to the global work force, but adds that those women must also be given [...]

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    Lagarde: The world must prepare to compete with machines

Lagarde: The world must prepare to compete with machines

Christine Lagarde, the managing director of the International  Monetary Fund (IMF), says global governments must prepare the people  to compete with machines.Lagarde, who spoke on the global economy ahead of the IMF and World  Bank meetings in Washington next week, said "there are concerns that automation will progressively jeopardize employment growth in emerging and developing economies".Quoting futurist Andrew McAfee, Lagarde said [...]

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    Lagarde: Global economy at a turning point…we must unlock Africa

Lagarde: Global economy at a turning point…we must unlock Africa

Christine Lagarde, managing director of International Monetary Fund (IMF), says the global economy has reached a turning point and must unlock opportunities in Africa.Lagarde said this, while addressing finance ministers from the G20 in Germany over the weekend.“Our meeting showed once again that the G20 provides a critical platform for major economies to work together within an established framework. We [...]

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    Letter bomb explodes at IMF Paris office

Letter bomb explodes at IMF Paris office

One person was injured after a letter bomb exploded at the International Monetary Fund (IMF) office in central Paris, on Thursday.Police operatives said there had been telephone threats against the IMF, but "there's no certainty that the calls were linked to the explosive".Christine Largarde, IMF managing director, has condemned the violent act."I have been informed about the the explosion in [...]

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Exchange Rates

October 14, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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