Mission Chief, Daniel Leigh, said the President moved quickly with vital changes, including ending petrol subsidy and unifying the exchange rates.
But the country’s growth is projected by the Fund to slide to 2.9 per cent next year from 3.3 per cent this year, and 3.1 per cent in 2025. According to him, the “shocks” include higher food and fertilizer prices due to the war in Ukraine, and a funding squeeze that has resulted in limited access to capital.
He stressed that fiscal buffers have been eroded in many countries, with elevated debt levels, rising funding costs, slowing growth, and an increasing mismatch between the growing demands on the state and available fiscal resources.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
IMF: Tinubu's economic reforms pave way for stronger, inclusive growth | The Nation NewspaperThe International Monetary Fund (IMF) on Tuesday, October 10, said economic reforms started by President Bola Tinubu, would trigger stronger and inclusive
Source: TheNationNews - 🏆 6. / 69 Read more »
IMF downgrades Nigeria’s economic growth projectionThe IMF said global headline inflation is expected to steadily decline from its peak of 8.7 per cent in 2022 (annual average) to 6.9 per cent in 2023
Source: PremiumTimesng - 🏆 3. / 78 Read more »
Low Oil Output Forces IMF To Revise Nigeria’s GrowthThis is the International Monetary Fund (IMF) said the recent reforms of the Tinubu administration may pave the way for stronger and inclusive growth.
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Manage Inflation Expectations For Economic Soft Landing, IMF Urges Central BanksThe International Monetary Fund (IMF) has charged Central Banks to better manage inflation expectations to help economies achieve a softer landing.
Source: LeadershipNGA - 🏆 4. / 77 Read more »
OPEC Sees Oil Demand Growth Continuing Until 2045According to OPEC, whose 13 member states include Saudi Arabia, the Gulf states and Venezuela, oil demand will be driven by emerging and developing nations, with India in pole position.
Source: channelstv - 🏆 7. / 63 Read more »
‘Hard work will aid Golfsixses’ rapid growth’Former Managing Director of Polaris Bank, Innocent Ike, and the Iyalode of Lagos, Mrs Bintu Fatima Tinubu, have tasked the organisers of Golfsixses tournament to work diligently to lift the standard of the competition, which caters for elders and retirees.
Source: GuardianNigeria - 🏆 1. / 94 Read more »