Saturday, June 15, 2019

Tag "International Monetary Fund (IMF)"

    We considered ECA data, says IMF on sovereign wealth fund ranking

We considered ECA data, says IMF on sovereign wealth fund ranking

The International Monetary Fund (IMF) says data about the excess crude account was used in its ranking on sovereign wealth funds across the world.Abebe Selassie, head of the African department made this known on Friday while speaking to journalists on the sidelines of the spring meetings of the International Monetary Fund and World Bank Group.The Bretton Wood institution had ranked [...]

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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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    IMF advises CBN to hold tight monetary policy rate for longer

IMF advises CBN to hold tight monetary policy rate for longer

The International Monetary Fund (IMF) has advised that the Central Bank of Nigeria should maintain its tight monetary policy rate for longer.Oya Celasun, the chief of the World Economic Studies division of the IMF's research department, gave this advice on Tuesday.Speaking to TheCable on the sidelines of the ongoing spring meetings of the International Monetary Fund and World Bank Group [...]

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    Otunuga: Nigeria may experience Q3 growth — despite IMF’s gloomy prediction

Otunuga: Nigeria may experience Q3 growth — despite IMF’s gloomy prediction

Lukman Otunuga, research analyst at FXTM, a firm which specialises in forex trading, says Nigeria may experience growth in the third quarter of the year, despite “gloomy predictions” made by the International Monetary Fund (IMF).On Tuesday, the Bretton Woods Institution had revised Nigeria’s economic growth from 2.1 percent in 2018 to 1.9 percent, saying the country is not performing up [...]

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    IMF says Nigeria’s economy doing poorly, cuts growth projection

IMF says Nigeria’s economy doing poorly, cuts growth projection

The International Monetary Fund (IMF) has cut the growth projections made for Nigeria saying the country's economy is doing poorly.Gian Maria Milesi-Ferretti, deputy director at IMF's research department made this known on Tuesday while addressing journalists at the ongoing annual meetings of the International Monetary Fund and World Bank Group in Bali, Indonesia.He said the aggregate growth rate of Africa is [...]

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    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

June 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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