LAGOS APRIL 6TH (NEWSRANGERS)-Nigeria has been excluded from the list of 28 countries granted debt pardon by the Executive Board of the International Monetary Fund (IMF). The Board has approved a third tranche of grants for debt service relief for 28 member countries under the Catastrophe Containment and Relief Trust (CCRT). This approval followed two…
LAGOS APRIL 29TH (NEWSRANGERS) -Nigeria’s request for $3.4 billion from the International Monetary Fund to fight the devastating effect of the COVID-19 has been approved. The loan which has a maximum repayment period of five years was approved by the Fund’s Executive Board Tuesday. The IMF in a statement said its Executive Board approved the…
LAGOS NOVEMBER 29TH (NEWSRANGERS)-President Muhammadu Buhari on Thursday re-sent the $29.96bn 2016-2018 external borrowing plan to the Senate for its consideration and approval. Buhari made the request a day after the International Monetary Fund warned Nigeria against rising debts. T he Debt Management Office has said out of Nigeria’s total debt profile of N25.7tn as…
LAGOS APRIL 12TH (NEWSRANGERS)-Reports already predicted Ghana as the fastest-growing economy in the world this year, according to the IMF. The lender’s growth forecast of 8.8 per cent for the producer of cocoa, gold and oil dwarfs the 6.6 per cent median in a media survey. The West African country is expected to become the…
LAGOS MARCH 9TH (NEWSRANGERS)-The annual visit of the International Monetary Fund (IMF) staff to Nigeria to collect economic and financial information and discuss with government officials on the economy and policy direction of the country ended earlier this week. After a year of recovery from recession, the macroeconomic growth of the country is looking up…
LAGOS MARCH 1ST (NEWSRANGERS)-Nigeria’s people are getting poorer despite the country’s slow recovery from recession and economic reforms are urgently needed, the International Monetary Fund has said. The Fund expects the government to “muddle through” in the medium term, and any progress could also be threatened if elections next year consume political energy and resources,…