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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THE global economic landscape in 2024 reveals a fascinating array of nations leading in wealth and prosperity for their citizens. This year’s lineup of the world’s most affluent countries, ranked by their GDP per capita PPP, offers a glimpse into the diverse strategies and unique economic characteristics that catapult nations …
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CHINA declining growth is set to affect Nigeria’s economic fortune, the International Monetary Fund has disclosed. IMF noted that because China has forged deep economic ties with countries in sub-Saharan Africa over the past 20 years, its recent declining growth may affect growth in Nigeria by 0.5 percentage points on …
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The International Monetary Fund has proposed a higher tax policy to solve Nigeria’s fiscal challenges. IMF Africa Department Director, Abebe Selassie disclosed this during a press briefing on the Sub-Saharan Africa Regional Economic Outlook on Friday at the ongoing World Bank Group/International Monetary Fund Meeting in Marrakech, Morocco. Newsextra24 reports that …
Read More »THE naira traded at 663.04/dollar at the close of business on Friday after a free fall following the Central Bank of Nigeria’s floating of the national currency against the dollar and other global currencies. This means that the currency appreciated by about 5.9 per cent within 24 hours from the …
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