Tony Elumelu, chairman of Heir Holdings, says government policies have been making it hard for African youth to succeed in their endeavours.Speaking on Thursday at a session of the ongoing Spring meetings of the International Monetary Fund and World Bank Group, Elumelu said governments of African countries need to prioritise their youth.He described youth as "determined, energetic, hungry to succeed and make [...]
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The International Monetary Fund (IMF) says infrastructure governance can't improve in Africa if the recommended framework is not implemented.Two officials of the organisation made the comments on Wednesday during a session titled 'Public Investment Efficiency in Sub-Saharan African Countries: What Lies Ahead?' at the ongoing Spring meetings in Washington DC.The officials are Ha Vu, a public financial management specialist at the [...]
Catherine Pattillo, assistant director, fiscal affairs department of the International Monetary Fund (IMF), has advised Nigeria to remove tax exemptions because the economy is still at risk.Answering questions from journalists on the sidelines of the ongoing Spring meeting of the Bretton Wood institution, she said Nigeria needs to increase its revenue base because debt interests are eating up most of [...]
The International Monetary Fund (IMF) has projected that Nigeria's inflation will remain in the double digits in 2018.In the April edition of its World Economic Outlook unveiled on Tuesday at the ongoing Spring meetings in Washington DC, the Bretton Wood institution said inflation rate will, however, moderate in both years."Inflation in sub-Saharan Africa is projected to moderate slightly in 2018 [...]
At the 2017 annual meetings of the International Monetary Fund (IMF) and World Bank Group, Christine Lagarde, IMF managing director, advised world leaders to invest in their people.During his recent visit to Nigeria, Bill Gates, world's second richest man, echoed the similar thoughts, saying roads and trains without skilled workers cannot flourish.The business and finance world — led by the [...]
The International Monetary Fund (IMF) says Nigerians are getting poorer and that "coherent and comprehensive" economic reforms are urgently needed in the country.The gross domestic product report released by the National Bureau of Statistics (NBS) on Tuesday showed that the economy recorded a growth of 0.83 percent in 2017.The Bretton Wood institution said it expects the government to “muddle through” [...]
Kemi Adeosun, minister of finance, has asked the World Bank and International Monetary Fund (IMF) to label tax evasion by multinational companies as "foreign corrupt practices".Adeosun made this request while speaking at the Platform for Collaboration on Tax (PCT) conference in New York.The PCT is an initiative of the Organisation for Economic Cooperation and Development (OECD), World Bank Group, International [...]
Kemi Adeosun, minister of finance, will be speaking at the Platform for Collaboration on Tax Conference at the UN headquarters in New York.The conference is organised by the US, Organisation for Economic Cooperation and Development (OECD), International Monetary Fund (IMF) and the World Bank.The conference, taking place on Thursday, is themed 'Taxation and the Sustainable Development Goals (SDGs)'.Pascal Saint-Amans, director [...]
The International Monetary Fund (IMF) says foreign investors are interested in Nigeria but are afraid of forex scarcity which would make it difficult to recover their money.Miriam Tamene, senior financial sector expert, International Monetary Fund (IMF), said this during a visit by the fund’s team to the Securities and Exchange Commission (SEC) in Abuja."At the annual meetings of IMF, we [...]
The International Monetary Fund (IMF) says ongoing policy uncertainty in Nigeria is restraining economic growth.The Bretton Woods institution made this known in its sub-Saharan African economic outlook report released on Monday in Zimbabwe."The board-based slowdown in sub-Saharan Africa is easing but the underlying situation remains difficult," the report read."Growth is expected to pick up from 1.4% in 2016 to 2.6% [...]
Kemi Adeosun, minister of finance, has appealed to the World Bank and International Monetary Fund (IMF) to help West Africa build a coastal highway from Lagos to Dakar, capital of Senegal.Speaking at the G24 ministers and governors meeting in Washington DC, Adeosun said regional infrastructure development is a potential growth driver."We believe that part of the solution must be regional, [...]
The International Monetary Fund (IMF) says the growth being experienced will be at risk if Nigeria and other countries do not put borrowed funds to good use.The institution said this on Wednesday while unveiling the Global Financial Stability report at its headquarters in Washington."External borrowing in emerging markets and low-income countries have increased," Tobias Adiran, financial counsellor and director of [...]
The International Monetary Fund (IMF) says Nigeria's economy will grow faster than South Africa's in 2017.This is a reverse from the fund's earlier projection in July that South Africa's economy will grow by 1% in 2017 while Nigeria will experience a 0.8% economic expansion.Speaking on Tuesday during the unveiling of the World Economic Outlook report at the organisation's headquarters in [...]
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 [...]
The International Monetary Fund (IMF) has described the set of measures put in place by the federal government to mitigate the effects of the dwindling oil revenues as a move in the right direction.On November 16, Ngozi Okonjo-Iweala, the coordinating minister of the economy and minister of finance, announced a series of steps that the government was taking to stabilise [...]
The International Monetary Fund (IMF) has warned Nigeria of the negative consequences of insecurity for its economic growth.The IMF made the prediction in its 2013 Article IV Consultation and Staff Report on Nigeria, presented in Washington DC, United States on Wednesday.In the report, the IMF listed Key downside risks, which include persistently lower oil revenue from changing global dynamics and [...]
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