Tag: IMF
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IMF, World Bank’s Policies Affecting Nigeria, Falana Tells FG
Human rights lawyer, Femi Falana, has urged the Nigerian government to discard the “deleterious policies” of the World Bank and the International Monetary Fund (IMF) like asking the government to increase electricity tariff and remove whatever was remained of the petrol subsidy despite that the political climate in the country was not conducive. “There is…
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COVID-19: Buhari seeks IMF support for developing countries
The President, Major General Muhammadu Buhari (retd.), has called for the reallocation of unused International Monetary Fund’s reserve assets also known as Special Drawing Rights currently held by developed countries to support COVID-19 recovery efforts in developing economies. The President, represented by Vice President Yemi Osinbajo, made the call on Tuesday at the virtual high-level…
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IMF worries over Nigeria’s repayment capacity of N24.39tn debt
The International Monetary Fund, on Tuesday, expressed worry over Nigeria’s ability to repay its foreign debt which had continued to rise. Though it said conditions were favourable for the country to continue to borrow, the IMF equally expressed worry over the capacity to repay. The Punch reports that the Financial Counsellor and Director, Monetary and Capital…
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Nigeria Servicing Debt With More Than 50% Revenue – IMF
The International Monetary Fund on Thursday painted the precarious situation of the nation’s economy in particular and Sub-Saharan Africa’s, in general, going by how much the country and the region spend on debt servicing. According to the Breton Woods financial institution, Nigeria spends more than 50 per cent of its revenues on servicing debts, a…