At the conclusion of its 2018 Article IV Consultation with Nigeria on Monday, the Executive Board of the International Monetary Fund (IMF) says the economy is on track. Its directors, however, call for the confirmation of Monetary Policy Committee (MPC) members and Central Bank of Nigeria (CBN) directors.
They also seek better implementation of the Economic Recovery and Growth Plan (ERGP) agenda for a more inclusive growth...
NEW foreign exchange measures, rising oil prices, attractive yields on government securities and a tighter monetary policy have contributed to better foreign exchange availability, increased reserves to a four-year high and contained inflationary pressures in Nigeria, the International Monetary Fund (IMF) said at the conclusion of its Article IV Consultation with Nigeria on Monday.
The Fund said economic growth, driven mainly by recovering oil production reached 0.8 per cent last year and that inflation declined to 15.4 percent year-on-year by end-December, from 18.5 per cent at end-2016.
According to the IMF, reforms under the government’s Economic Recovery and Growth Plan (ERGP) have resulted in significant strides in strengthening...
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