“The IMF said to us that we shouldn’t do domestic issues of dollar bonds. We did it and we were 100% oversubscribed, but we still value their viewpoint and took it into account,” he said. PEGASUS REPORTERS, LAGOS | OCTOBER 24, 2024 Mr. Wale Edun, minister of finance and coordinating minister of the economy, has revealed how the $500 ...
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President Tinubu’s Love Affair with the IMF – By Lasisi Olagunju
“Shaving people’s heads in their absence is the simple meaning of international politics and global finance. Two of the barbers – the ‘head cutters’ – are the IMF and the World Bank. They are the ones we are asking this president to disobey. The man knows why he is putting his feet where he is directed to put them.” ...
Read More »Recession Will Hit A Third Of The World Countries In 2023 – IMF Chief Warns
“Global growth is forecast to slow from 6 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023. This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19 pandemic,” it said. PEGASUS REPORTERS, LAGOS | JANUARY 2, 2023 Washington: A third of the global economy ...
Read More »Economy: Nigeria To Spend 92% Of Earnings Paying Creditors In 2022 – IMF
“The government seems oblivious to the impending crisis. In its 2022 budget, less than 40 percent of revenues is earmarked for debt servicing. But the trend of lower than planned actual revenues means analysts hold the estimate with a pinch of salt” PEGASUS REPORTERS, LAGOS | FEBRUARY 14, 2022 The Financial Times Africa Editor, David Pilling, wrote an article ...
Read More »African Development Bank (AfDB) Disagrees With IMF on Increased Taxes In Nigeria
It will be recalled that to increase tax revenue, Nigeria raised its value-added tax (VAT) rate from five percent to 7.5 percent in 2020 based on IMF recommendation to Nigeria to increase its VAT rate to at least 10 percent by 2022 and 15 percent by 2025, which it says is the average rate in countries belonging to the ...
Read More »IMF Grants $65 Billion Special Drawing Rights To Nigeria, Others
In April 2020, Nigeria collected $3.4 billion equivalent to 100 percent of its quota under the IMF’s Rapid Financing Instrument, RFI, to tackle the funding gaps created by COVID-19, especially when the crude oil market sunk to the lowest position. NAN REPORT | AUGUST 4, 2021 To boost global liquidity, the Board of Governors of the International Monetary Fund ...
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