THE IMF and Ghana have reached an agreement on the third review of the country’s $3bn loan programme, the Fund announced on Friday. This marks a key milestone in Ghana’s ongoing efforts to stabilise its economy amidst significant financial challenges. Ghana, a leading producer of gold and cocoa in West …
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THE International Monetary Fund, IMF, on Tuesday downgraded its forecast for Nigeria’s economic growth in 2024 to 3.1 percent citing weaker growth recorded in the first quarter of the year, Q1’24. The new forecast was contained in the July 2024 World Economic Outlook of the IMF released, on Tuesday. The …
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THE International Monetary Fund, or IMF, has predicted that Nigeria’s economy will reach $1.85 trillion by 2029 in terms of purchasing power parity. This forecast suggests a significant growth trajectory for the country’s economy over the next five years. According to the IMF data, Nigeria’s gross domestic product in PPP …
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NIGERIA’s current account balance recorded a surplus of $1.432bn in 2024, according to the International Monetary Fund’s World Economic Outlook Database, accessed on Wednesday. The rise in FG’s account for the period represents a substantial increase from the $1.21 billion surplus recorded in 2023. A country’s current account balance represents …
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THE Federal Government is contemplating a supplementary budget to accommodate a proposed increase in the minimum wage, as ongoing negotiations are likely to exceed the allocations in the 2024 fiscal plan, according to the International Monetary Fund (IMF). In its latest staff country report on Nigeria, the IMF mentioned, “The authorities …
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THE International Monetary Fund (IMF) says inflation is easing faster than expected but has not been fully defeated. Kristalina Georgieva, Managing Director of IMF, was quoted in a statement by the Fund on Thursday to have said this at the China Development Forum (CDF) 2024, in Beijing. The event was …
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THE IMF is to provide $120 million to Uganda, marking a significant step in the country’s economic recovery efforts. This allocation comes following the fifth review of Uganda’s Extended Credit Facility (ECF) programme, part of a larger financial package that could potentially reach $1 billion from the multilateral lender. This …
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THE Tax Justice and Governance Platform (TJGP) has appealed to the National Assembly (NASS) to investigate the movement and spending of $3.4 billion loan obtained by the Federal Government through the International Monetary Fund (IMF). The group made the appeal on Friday during a joint news briefing, along with the …
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THE International Monetary Fund, IMF, has emphasised the need for the Federal Government of Nigeria to eliminate electricity subsidy. This was disclosed in the IMF’s latest country report for Nigeria, in which the global monetary institution insisted that the Tinubu administration’s focus on revenue mobilisation and digitalisation would improve public …
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THE International Monetary Fund, IMF, has warned that Nigeria is experiencing a deepening economic crisis. IMF expressed concern that the stagnant per-capita growth, widespread poverty, and severe food insecurity have further intensified the persistent cost-of-living crisis in Nigeria. This was contained in its recently published report titled ‘Review of Nigeria’s …
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