Tuesday, November 13, 2018

Tag "World Bank Group"

    Emefiele: It is either build reserves or save the naira — we’re choosing the naira

Emefiele: It is either build reserves or save the naira — we’re choosing the naira

Godwin Emefiele, governor of the Central Bank of Nigeria, says the Buhari-led administration chose to save the naira instead of building reserves.Emefiele, who made this known to journalists on Sunday in Bali, Indonesia, said it is difficult to talk about building reserves at the moment."We are going to need to build buffers but unfortunately I must say that we are [...]

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    Nigeria among bottom seven in World Bank’s first ever Human Capital Index

Nigeria among bottom seven in World Bank’s first ever Human Capital Index

Nigeria has been ranked 152 out of 157 countries in the first-ever Human Capital Index released by the World Bank Group.Unveiling the report on Thursday at the ongoing annual meetings of the World Bank Group and International Monetary Fund (IMF) in Bali, Jim Yong Kim, World Bank president, said educational outcomes from Nigeria are too poor."Nigeria, unfortunately, ranks 152 out of [...]

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    Earthquake vibrations hit Bali, venue of IMF/WBG meetings

Earthquake vibrations hit Bali, venue of IMF/WBG meetings

Participants at the ongoing annual meetings of the International Monetary Fund and World Bank Group in Bali, Indonesia, were awakened by vibrations in the early hours of Thursday.Bali, a popular tourist destination in Indonesia is seven hours ahead of Nigeria.In a statement released few hours after the vibrations, the IMF assured participants that the earthquake has not disrupted the meetings."A [...]

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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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    Follow TheCable for live updates from the 2018 IMF/WBG Spring meetings

Follow TheCable for live updates from the 2018 IMF/WBG Spring meetings

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 [...]

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    Global poverty to fall below 10% for the first time ever

Global poverty to fall below 10% for the first time ever

The number of people living in extreme poverty around the world is likely to fall to under 10 percent of the global population in 2015, the World Bank has said.World Bank projections give fresh evidence that a quarter-century-long sustained reduction in poverty is moving the world closer to the historic goal of ending poverty by 2030.Despite the use of an [...]

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    Lagos gets $200m from World Bank

Lagos gets $200m from World Bank

The World Bank has approved a $200m credit to Lagos state to support fiscal sustainability, budget planning, budget execution, and the investment climate in the state.This was disclosed by the bank in a statement issued on Wednesday.The operation would help sustain the state’s recent economic growth and poverty reduction while continuing to deliver social services to the city’s expanding population, [...]

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    Nigeria’s external debt now $9.4bn

Nigeria’s external debt now $9.4bn

The Debt Management Office (DMO) says Nigeria's external debt profile stood at $9.4 billion as at the end of March 2015.This was disclosed in a release that DMO published on its website on Monday, detailing the country’s debt stock profile.According to the release, the figure shows a decrease of about $300 million from the $9.7 billion that the country had as its [...]

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Exchange Rates

November 9, 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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