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IMF: 20 Sub-Saharan African Countries In Debt Distress, High Risk Of Debt Distress

International Monetary Fund (IMF)
Nigeria not listed despite huge public debt burden The International Monetary Fund (IMF) has warned that debt vulnerabilities remains elevated in Sub-Saharan Africa, with no fewer than 20 countries inRead More

Rethink Your Policy On Fuel Subsidy, World Bank Tells Nigeria

President of the World Bank Group, Mr. David Malpass
Insists the rich benefit more from fuel subsidy than the poor Says barriers distorting country’s trade flows The President of the World Bank Group, Mr. David Malpass has once moreRead More

IMF: Countries With Huge Debts Vulnerable To Financial Crises, Recession

International Monetary Fund (IMF)
The International Monetary Fund (IMF) has warned that economies with large external debts could be vulnerable to financial crises and deep recessions when capital flows out. The IMF stated thisRead More

IMF: Ukraine War Threatens Africa In Food, Fuel Prices

IMF boss, Kristalina Georgieva
Okays $1.4bn emergency financing for warn-torn country The Managjng Director of International Monetary Fund (IMF), Kristalina Georgieva, has warned that the war in Ukraine threatens to undo Africa’s progress inRead More

CBN Has Enough FX To Meet Market Demand, Report Reveals

Central Bank of Nigeria (CBN)
Says inflows from Eurobond, SDR will boost forex supply Amid a spate of measures being put in place by the Central Bank of Nigeria (CBN) to reduce pressure on theRead More

COVID-19: IMF Projects $13.8trn Cumulative Global Losses By 2024

International Monetary Fund (IMF)
The International Monetary Fund (IMF) has lamented that economic indicators have continued to point to weaker growth momentum, due to the Omicron variant and persistent supply chain disruptions. It projectedRead More

Fed Policy Tightening May Rattle Global Financial Markets, IMF Warns Nigeria, Others

International Monetary Fund (IMF)
The International Monetary Fund (IMF) advised emerging economies such as Nigeria to prepare for the United States’ interest rate hikes, warning that faster than expected Federal Reserve hike could rattleRead More

IMF: Nigeria’s eNaira Attracting Global Attention

Central Bank Digital Currency (CBDC), also known as the eNaira
Tasks CBN on risk management The International Monetary Fund (IMF) has revealed that Nigeria’s digital currency, the eNaira has been “drawing substantial interest from the outside world,” since it wasRead More

W’Bank: Nigeria, 46 Other Low-income Countries’ Debt Burden Rose 12% In 2020 To $860bn

World Bank
The debt burden of the world’s 47 low-income countries, including Nigeria, rose 12 per cent to a record level of $860 billion in 2020, according to a new report releasedRead More

Digital Currency Gains Traction As CBN Appoints Technical Partner

Central Bank of Nigeria vs Cryptocurrency
IMF urges caution on adoption of cryptocurrency as national currency The Central Bank of Nigeria (CBN) yesterday announced the formal engagement of global fintech company, Bitt Inc., as technical partnerRead More