Christine Lagarde, managing director of the International Monetary Fund (IMF), says only a third (33 percent) of households in sub-Saharan Africa have electricity.In context, approximately seven in 10 (66 percent) sub-Sahara African households lack access to electricity.The IMF boss, who is currently visiting Central African Republic (CAR), Uganda, and Mauritius, said poverty has been on the decline in Africa, but inequality [...]
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Christine Lagarde, managing director of the International Monetary fund (IMF), just concluded her visit to Cameroon, recording her first visit to Africa after her conviction in France on Monday.According to IMF, Lagarde's visit to Cameroon was at the invitation of Paul Biya, the long-serving Cameroonian president, who asked that she participate at a heads of states of central summit in [...]
The executive board of the International Monetary Fund (IMF) says Christine Lagarde must continue with her "outstanding leadership", despite being convicted by a French court on Monday.Lagarde was convicted of negligence in the misuse of public funds, but after the IMF board reviewed her situation, it expressed its "full confidence" in her work.“The Executive Board met today to consider recent developments in the [...]
The International Monetary Fund (IMF) says it will be meeting shortly to consider the fate of its managing director, Christine Lagarde, who was convicted in France on Monday.In a statement emailed to TheCable, Gerry Rice, director of communications at the International Monetary Fund (IMF), said the board of the fund had met to consider the case against Lagarde and would [...]
Christine Lagarde, managing director of the International Monetary Fund (IMF), says at the current rate of change, the world may not achieved economic gender equality (equal pay) in 170 years.Speaking at the Glamour awards in Los Angeles, where she was awarded woman of the year, Lagarde shared her own experiences, on gender cracks and successes; how she went from a [...]
Christine Lagarde, managing director of the International Monetary Fund (IMF), says if the founding fathers of the IMF were alive today, they would be concerned that trade has become political football.Speaking on the challenges of free trade and current transitions in global economy, Lagarde said it would have been great to call great thinkers of the past to help with [...]
Christine Lagarde, managing director of the International Monetary Fund (IMF), says the fund is offering zero interest loans to all its members facing economic challenges.Speaking at a press briefing in Washington on Thursday, Lagarde said economic growth has been too low for too long, and IMF was stepping up with zero interest loan for those in need of loans.“Prospects for [...]
The international Monetary Fund (IMF) sees the Nigeria’s new foreign exchange policy as a welcome development, but calls for caution.Speaking at a press conference in Washington DC, Gerry Rice, IMF spokesman, said the decision taken by the Central Bank of Nigeria (CBN) to remove the currency peg is an important step for the economy.“On Nigeria, however, I think the announcement [...]
Moses Tule, director of monetary policy department of the central bank of Nigeria (CBN), says Christine Lagarde, managing director of the IMF, knows too well to say or think that President Muhammadu Buhari decides for the CBN.Speaking with TheCable on Friday, Tule said governments all over the world do not like to dabble into monetary policy decisions made by central banks.When [...]
Christine Lagarde, managing director of the International Monetary Fund (IMF), says Nigeria’s economic situation is alarming, calling for a flexible exchange rate regime.Speaking on the World Bank/IMF special edition of BBC’s HardTalk anchored by Stephen Sackur, Lagarde said Nigeria has huge potential, especially in her youth.Largade maintained that IMF was ready to help Nigeria, appealing to President Muhammadu Buhari to take [...]
Christine Lagarde, managing director of the International Monetary Fund (IMF), says Nigeria should seek economic help from international institutions.Speaking at the IMF conference hall in Washington DC on Thursday, Lagarde said Nigeria needs to be open-minded on foreign exchange, and swiftly approve the 2016 budget.“Our recommendation is that Nigeria seeks help from the international institutions that can best help,” she [...]
Kemi Adeosun, minister of finance, called for sustainable and inclusive growth for Africa at a high level G20 finance ministers seminar held in Paris, France capital, on Thursday.The ministers met to discuss current challenges to the international financial architecture and ways of combating macroeconomic volatility.The high level seminar also assessed volatility in capital flows and their impact on global economic [...]
Nigeria’s foreign exchange reserves has risen for the first time in five months and the second time since President Muhammadu Buhari assumed office.According to the latest data from the Central Bank of Nigeria (CBN), the reserves experienced a rise of $13 million.The reserves, which rose by $350 million in August 2015, was on the upside again on Monday, surging from [...]
Christine Lagarde has been re-elected managing director of the International Monetary Fund (IMF), and is set to lead the body for the next five years.After her announcement by the executive board on Friday, Lagarde expressed appreciation for the trust reposed on her to lead again.“I have been honoured to serve in the past five years, I greatly appreciate the continued trust [...]
Despite stringent measures to conserve foreign exchange, the Nigerian foreign exchange reserves fell by $954,581,406 in the past one month.According to the latest figures from the Central Bank of Nigeria (CBN), the reserves fell below $28 billion for the first time since August 2005, when it stood at $26.951 billion.The reserves opened 2016 at $28.978 billion on January 4, and [...]
Christine Lagarde, managing director of the International Monetary Fund (IMF), says Nigeria needs to adopt a "sensible" foreign exchange policy as it strives to fend off external economic shocks.Speaking at a press conference in Washington, Lagarde said the IMF was willing to give loans to Nigeria, Azerbaijan and other member countries if they get to need it.“The IMF remains available [...]
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