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World Economic Outlook

A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo. REUTERS-Kim Kyung-Hoon

IMF: Nigeria’s economy will contract by 3.4 percent in 2020

The International Monetary Fund (IMF) on Tuesday projected that Nigeria’s economy would contract by 3.4% in 2020, implying the reversal of the modest 2.27% real growth recorded in 2019 to a possible growth of 1.13% by year end.
The International Monetary Fund (IMF) has backed Nigeria’s closure of its borders with some neighbouring countries over issues bordering on illegal trade.

IMF: Coronavirus could damage global growth in 2020

The coronavirus epidemic could damage global economic growth this year, the IMF head said Sunday, but a sharp and rapid economic rebound could follow.
President Muhammadu Buhari on Monday signed into law the Finance Bill 2019 (now Finance Act), which among other objectives, seeks to increase government revenue while supporting struggling small businesses in Africa’s largest economy.

IMF cuts Nigeria’s economic growth forecast

The International Monetary Fund (IMF) has announced a downward review of its 2020 growth forecast for Nigeria to two per cent from the 2.5 per cent it predicted earlier.
The International Monetary Fund (IMF) has backed Nigeria’s closure of its borders with some neighbouring countries over issues bordering on illegal trade.

IMF sets Nigeria’s 2020 growth projection at 2.5 percent

The International Monetary Fund (IMF) in its World Economic Outlook (WEO) released Monday has projected that the Nigerian economy will grow at 2.5 per cent this year and next year, same as it had predicted in its October 2019 WEO.

IMF faults forex restrictions on 43 items as hurting investments

The foreign exchange restrictions placed on 43 items by the Central Bank of Nigeria (CBN) on Tuesday drew criticism from the International Monetary Fund (IMF).

IMF cuts 2019 global growth estimate to 3 percent

The world economy is slowing to its weakest pace since the global financial crisis, amid continuing trade conflicts that have undercut business confidence and investment, the IMF said Tuesday.

IMF: Trade uncertainty rising in Nigeria

The International Monetary Fund has expressed concern over the rise in trade uncertainty in Nigeria and many other economies amid the escalating trade tensions between the United States and China.

IMF raises growth projection for Nigeria

In the World Economic Outlook report released on Tuesday at the ongoing spring meetings of the IMF and World Bank Group, the fund said Nigeria’s economy will grow by 2.1% in 2019, an increase of 0.1% points from the 2% projection given in January.
Institute of Chartered Accountants of Nigeria (ICAN)

ICAN: Delayed passage of 2019 budget may sabotage growth prospects

Institute of Chartered Accountants of Nigeria (ICAN) have said that the delayed passage of the 2019 budget and slow investment choices that may arise as a result of expectations from the general elections may stall Nigeria’s growth prospects in 2019.

IMF cuts Nigeria’s GDP growth projection to 2 percent

The International Monetary Fund (IMF) has cut Nigeria’s gross domestic product (GDP) projection for 2019 to 2% from the 2.3% it had predicted previously.

IMF warns Nigeria not to delay reforms over high oil prices

The International Monetary Fund (IMF) has warned Nigeria and other oil exporting nations in dire need of structural reforms not to be tempted to delay the exercise due to the current higher oil prices.

IMF: Poor growth in Nigeria, South Africa affecting African economy

The International Monetary Fund (IMF) has said African economies combined growth rate is held down by the continent’s three largest economies: Nigeria, South Africa and Angola, which IMF said are not performing up to their potentials.

IMF predicts 13.5 percent inflation for Nigeria in 2019

The International Monetary Fund (IMF) has predicted that inflation rate in Nigeria will rise to 13.5 per cent in 2019.
Acting Finance Minister of Finance Zainab Ahmed

Zainab Ahmed, Godwin Emefiele join economic experts at IMF/WBank meeting

The Minister of Finance, Mrs Zainab Ahmed and the Central Bank of Nigeria (CBN) governor, Mr Godwin Emefiele, will join other economic experts from around the world to discuss issues affecting the global economy.

IMF: Rise in crude oil prices to raise Nigeria’s economy by 2.3% in 2019

The International Monetary Fund (IMF) has upgraded the growth rate forecast for Nigeria’s Gross Domestic Product (GDP) in 2019 to 2.3 per cent while retaining 2.1 per cent for 2018.

IMF warns trade tensions could disrupt global growth

The global economy is still expected to grow at a solid pace this year, but worsening trade confrontations pose serious risks to the outlook, the International Monetary Fund said Monday.

IMF acknowledges central bank’s monetary policy success

The Central Bank of Nigeria (CBN) is relishing the success of its monetary policy, especially regarding the foreign exchange, as the efforts have been finally acknowledged by the international financial community.

IMF’s Lagarde warns against harming trade, investment

With US-China frictions hanging over its annual meeting, the International Monetary Fund on Thursday warned governments to avoid harming trade and investment which have been key drivers of the global economic recovery.

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