The International Monetary Fund (IMF) says Nigeria is creating economic difficulty for its neighbours, being a very important of economy in the west African region.Speaking at a press briefing on the IMF Fiscal Monitor report in Washington, Catherine Pattillo, head, fiscal policy and surveillance division, IMF fiscal affairs department, said Nigeria's challenges were hurting its neighbours.“The slump in oil production and [...]
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The International Monetary Fund (IMF) was one of the first institutions to forecast Nigeria's recession.IMF called on the country's leadership to apply for a loan facility to avoid or sail out of recession, but this hand of fellowship has been consistently declined.With recession breathing down our necks, oil prices fluctuating and foreign loans difficult to secure, Nigeria is limited to asset sale [...]

Christine Lagarde, managing director of the International Monetary Fund (IMF), has announced the appointment of Abebe Selassie as director of the IMF’s African department.Selassie succeeds Antoinette Sayeh whose departure was announced previously. He is expected to begin his work in this capacity on September 19, 2016.“Abe brings a profound understanding of the challenges facing Africa, having worked closely with [...]

Christine Lagarde, managing director of the International Monetary Fund (IMF), says employing women is not only the right thing to do but also the smart thing to do.In a blog post, the former finance minister of France said employing women leads to significant economic growth, raising gross domestic product (GDP) appreciably."At his swearing-in ceremony last year, Prime Minister Justin Trudeau [...]

The Central Bank Egypt has agreed to take a $12 billion loan facility from the International Monetary Fund (IMF) for the implementation of quick economic reforms needed in the economyChris Jarvis, team lead of the IMF mission in Egypt, disclosed on Thursday, after two weeks in the north African country.“I am pleased to announce that, in support of the government’s [...]

The International Monetary Fund (IMF) has reiterated its projection that the Nigerian economy will grow faster than South Africa’s economy in 2016.In the conclusion of its consultations in South Africa, the international financial institution slashed South Africa’s gross domestic product (GDP) growth rate from 0.6 percent to 0.1 percent in 2016.IMF had said earlier in the year that the Nigeria’s GDP growth [...]