International Monetary Fund
Sudan inflation soars, raising spectre of hyperinflation
Inflation in Sudan has risen to one of the highest levels in the world, and the country risks slipping into hyperinflation unless it gets its budget deficit and money supply under control, economists say.
Ifueko Okauru: How we reformed FIRS, grew Nigeria’s revenues
Between 2004 and 2012, Ifueko Omogui Okauru led a revolutionary campaign in the Federal Inland Revenue Service (FIRS). Under her leadership during the period, FIRS witnessed extensive reforms and fundamental transformation.
Minister: Nigeria has fulfilled all conditions for $1.5 billion World Bank loan
Zainab Ahmed, the minister of finance, budget and national planning, says the federal government has fulfilled the conditions required for the World Bank loan.
Nigerian government deploys treasury directors in NNPC, others
The FGOEs affected included the Nigerian National Petroleum Corporation (NNPC), the Nigeria Communication Commission (NCC), Nigeria Ports Authority, Federal Inland Revenue Service, Nigeria Customs Service, Nigeria Maritime Administration Agency, Department of Petroleum Resources, Corporate Affairs Commission, the Federal Airport Authority of Nigeria, and Nigeria Shippers’ Council.
TSA: Nigeria saves N45 billion monthly, signs MoU with Gambia
The implementation of the Treasury Single Account (TSA), has been of immense benefit to the country as the Federal Government now saves an average of N45 billion monthly in interest payments.
IMF: 83 countries benefited from $165 billion loans in 2020
The International Monetary Fund (IMF) says it loaned 83 countries the sum of $165 billion including $16.1 billion in concessional financing to 49 low-income countries in 2020.
IMF projects 10.4% contraction in global trade, difficult economic recovery
In the just-released biannual World Economic Outlook (WEO) report, the IMF also revealed that foreign direct investment flows as a share of global gross domestic product are well below their pre-pandemic levels, and are expected to remain as such in the near future.
Zambia nears default with bondholders set to refuse relief
A key bondholder group is set to reject Zambia's request for an interest-payment holiday, putting the country on course to become the first African sovereign defaulter since the onset of the coronavirus pandemic.
World Bank-IMF annual meetings in Morocco postponed until 2022
The Annual Meetings of the World Bank Group and the International Monetary Fund (IMF) scheduled to take place in Marrakesh, Morocco, in October 2021 has been postponed by 12 months until 2022 due to the COVID-19 pandemic.
IMF: Coronavirus‘ll widen gap between rich and poor
The COVID-19 pandemic will widen the gap between the rich and the poor, especially in the emerging markets and developing economies, the International Monetary Fund (IMF) has said.
Seychelles opposition wins presidency for first time in 43 years
The Seychelles elected an opposition candidate as president for the first time since 1977, authorities announced on Sunday, and winner Wavel Ramkalawan reaffirmed a pledge to hike the minimum wage after COVID-19 stifled the tourism-dependent economy.
World Bank, IMF charged on economic transformation
The Development Committee of the World Bank Group (WBG) and International Monetary Fund (IMF) for Annual Meetings 2020 has called on the multilateral organisations to support and accelerate a resilient recovery centered on jobs and economic transformation.
Nigeria seeks global support to upgrade African digital space
Nigeria, on behalf of Angola and South Africa Constituency, has called for global solidarity in upgrading the digital space in Africa so that the continent can benefit from new jobs.
IMF: #EndSARS protest may mar Nigeria’s growth projection
Activities surrounding the #ENDSARS protest may mar the already documented Nigeria’s growth projection, the International Monetary Fund has said.
IMF: Sub-Saharan Africa economy will recover by 3.1% in 2021
The International Monetary Fund (IMF), says economic activity in sub-Saharan Africa is projected to recover by 3.1 per cent in 2021 after declining by 3.0 per cent in 2020.
IMF: Nigeria debt-GDP ratio to hit 68 percent
Sub-saharan Africa faces a huge challenge, made worse by the coronavirus pandemic, to find nearly $900 billion to repay massive debt and fund essential public spending, the International Monetary Fund (IMF) warned Thursday.
Jordan’s monarch dissolves parliament ahead of November election
Election comes amid popular discontent over economic woes worsened by COVID-19 and corruption allegations.
Mali faces recession after coup
Mali faces mountainous economic and political challenges more than a month after the military coup that toppled president Ibrahim Boubacar Keita, analysts say.
Recent Stories
#EndSARS: Edo lawyer wants judicial panel of enquiry on police attacks
An Edo state-based lawyer and notary public, Olayiwola Afolabi, has called on the federal government to institute a judicial panel of inquiry to investigate attacks on police officers by suspected hoodlums during the #EndSARS protest that went violent leading to the destruction of properties and loss of lives across the country.
Ghana to elect president in ‘battle of two giants’
West African gold producer Ghana is preparing to elect a president on Dec. 7, in a race dubbed the “battle of two giants.”
MultiChoice back with music reality show Nigerian Idol
After a three-year hiatus, Nigerian Idol will return with season six to unearth some of the best musical talents the country has to offer. The Idol franchise has over the years produced some of the biggest Nigerian singer such as Timi Dakolo, Mercy Chinwo, and Omawumi who have gone ahead to make a name for themselves in the global music scene.
Napoli unveil Diego Maradona-inspired tribute kit vs Roma
Although coach of Argentinian side Gimnasia y Esgrima La Plata at the time of his death, Maradona was more renowned for his remarkable playing career, during which he inspired his country to 1986 World Cup success and also played for Argentinos Juniors, Boca Juniors, Barcelona, Napoli and Sevilla.
Ifeanyi Anaemena: Rivers United will bounce back from Futuro Kings defeat
Rivers United defender Ifeanyi Anaemena said his team is not down following their 1-2 loss to Futuro Kings on Saturday.
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BBNaija’s Ozo appointed Juventus brand manager
Ozoemena “Ozo” Chukwu is now the brand manager of Juventus Academy in Nigeria.
House of Reps move to strip President of ecological fund powers
The bill entitled ‘A Bill to Establish the regulation of Ecological Fund, 2020’, states in its Part 2, section 7, that a proposed council, “Shall take custody and monitor the ecological fund for the purposes of addressing any of the following challenges: erosion, landslide, desertification, floods, oil spillage, drought and any other environmental challenges that may arise in the application of the fund”.
Taiwo Awoniyi scores in Union Berlin’s away win at Cologne
Taiwo Awoniyi scored his maiden goal for Union Berlin who recorded a 2-1 away win against FC Cologne.
Enugu fire service to campaign against fire outbreaks from December 1 – official
Enugu State Fire Service is to commence a campaign on safety measures against possible fire outbreaks in the state as from Dec. 1, 2020, a statement from the Enugu State Chief Fire Officer, Mr Okwudiri Ohaa, said in Enugu on Saturday.
Gunmen storm Yola community, kidnap police officer’s wife, son
Gunmen suspected to be kidnappers reportedly stormed Yolde Pate community in Yola South local government area of Adamawa State, and whisked away the wife and son of a police officer (names withheld) just as a local vigilante member barely escaped.