Saturday, September 22, 2018

Tag "International Monetary Fund (IMF)"

    Nigeria’s GDP growth falls in Q2

Nigeria’s GDP growth falls in Q2

The rate at which Nigeria's gross domestic product grew in the second quarter of 2018 slowed to 1.50% from 1.95% recorded in the first quarter of the year.According to the Gross Domestic Product report released on Monday by the National Bureau of Statistics (NBS), oil GDP contracted by -3.95% in the second quarter."Q2 2018 real GDP growth at 1.50% year [...]

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    Despite growth projections, IMF says Nigeria’s economy may ‘not be so lucky’

Despite growth projections, IMF says Nigeria’s economy may ‘not be so lucky’

The International Monetary Fund (IMF) says Nigeria's economy might not be so lucky despite the growth projections from various quarters.Giving his opening remarks at the unveiling of the 2018 World Economic Outlook on Tuesday, Maurice Obstfeld, IMF's chief economist, said commodity exporting countries will need to diversify their economies to boost further growth.With a 0.8 percent growth signalling an exit [...]

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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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    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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    Onyeama: IMF, World Bank need to be reformed

Onyeama: IMF, World Bank need to be reformed

Geoffrey Onyeama, minister of foreign affairs, says there is a need to reform the governance structure of the Bretton Wood institutions which are the World Bank and the International Monetary Fund (IMF).Onyeama, who made this statement at the 41st Ministerial Meeting of the Group of 77 plus China (G77+China) on the sidelines of the UN general assembly, said the reason [...]

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    CBN increases forex sales to BDCs after IMF commendation

CBN increases forex sales to BDCs after IMF commendation

The Central Bank of Nigeria has announced that it would increase the amount of forex apportioned to Bureau de Change operators (BDCs) to $10,000 weekly from $8,000.This action comes after directors from the International Monetary Fund (IMF) praised the apex bank for easing foreign exchange restrictions in Nigeria."Directors underscored that external adjustment is necessary to protect foreign currency buffers and reduce [...]

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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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    FXTM: Brexit contagion punishes global market

FXTM: Brexit contagion punishes global market

Global stocks swiftly departed from their gains during trading on Thursday as the horrible mixture of mounting Brexit anxieties and elevated concerns over the global economy rapidly eroded risk appetite.Asian markets were already on a slippery decline from the tepid China data which rekindled concerns over slowing economic momentum in the world’s second largest economy, and they may open [...]

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Exchange Rates

September 21, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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