The International Monetary Fund (IMF) on Tuesday raised its 2023 global growth estimates slightly higher as economic activity in the first quarter globally remained upbeat across geo-political regions worldwide. It, however, noted that persistent challenges were dampening the medium-term outlook of the global economy. The Breton Woods institution, in its latest World Economic Outlook, stated […]
The International Monetary Fund (IMF) has announced a new $41 billion under its Resilience and Sustainability Trust (RST) to support developing countries in their current drives towards mitigating climate threats through green projects. The IMF Managing Director, Kristalina Georgieva, made this disclosure during one of her presentations at the New Global Financial Pact Summit in […]
Researchers and economic development analysts have attributed the improved financial sector’s contribution to Nigeria’s Gross Domestic Product (GDP) in Q1 2023 to higher charges on customers as e-transactions mainly characterized the sector’s operations in the period. The National Bureau of Statistics (NBS) had on Wednesday in its ‘Nigeria Gross Domestic Product Q1 2023’ report disclosed […]
The International Monetary Fund (IMF) has projected that Nigeria and other countries could lose an estimated $10 billion of foreign direct investment and official development assistance inflows to geo-political tensions. The IMF made this projection in its Country Focus on Sub-Saharan Africa (SSA) report published on Monday, indicating that the figure represented about a half […]
The Nigeria Employers’ Consultative Association (NECA) has warned the Federal Government to reject calls by the International Monetary Fund (IMF) for introduction of more taxes in the country in view of the negative implications for the economy and socioeconomic wellbeing of Nigerians and other residents. The association’s Director-General, Mr. Adewale Oyerinde, in a statement on […]
The World Bank Group President, David Malpass, has predicted that developing economies would experience moderated growth of about 3.1% this year compared to the 4.1% growth recorded in 2022. Malpass made this projection on Tuesday during a Media Call at the ongoing World Bank/IMF Spring Meetings in Washington D.C, United States. The development finance banker […]
The Managing Director of International Monetary Fund (IMF), Ms. Kristalina Georgieva, has predicted that the world economic growth will dip below three per cent during 2023 and is likely to stay at that level for the next five years. The IMF boss made this forecast on Thursday during a prepared speech while visiting Washington DC […]
The International Monetary Fund (IMF) and the European Commission (EC) have advised African leaders on the need to improve revenue generation, preserve debt sustainability and provide more consessional funding to reduce the current constraints on their countries given the high level of debt and fiscal constraints militating their developmental initiatives. The Breton Woods finance institution’s […]
The International Monetary Fund (IMF) has revised upward its 2023 growth projection for Nigeria’s economy to 3.2% from the earlier projected 3.1% growth rate published in its World Economic Outlook Update (WEO) in October last year. The IMF made the latest forecast in its World Economic Outlook Update published on Tuesday. It reported that the […]
The International Monetary Fund (IMF), one of the global multilateral finance institutions, has reported that about 15% of low-income countries (LICs) are trapped in debt distress while 45% of the population faces high risks of indebtedness as rising restrictions continue to constrain global economies. The development finance institution made this projection in a new report […]