Nigeria 2021 Article Iv Consultation Press Release Staff Report Staff Statement And Statement By The Executive Director For Nigeria
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Nigeria 2021 Article Iv Consultation Press Release Staff Report Staff Statement And Statement By The Executive Director For Nigeria
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2022-02-09
Nigeria 2021 Article Iv Consultation Press Release Staff Report Staff Statement And Statement By The Executive Director For Nigeria written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-09 with Business & Economics categories.
The economy is recovering from a historic downturn thanks to policy support, rebounding oil prices and international financial assistance. Benefiting from the authorities’ pro-active approach, COVID-19 infection rates and fatalities have been contained. With higher oil prices and the country entering into the 2023 Presidential election cycle, there are risks of delays in much needed fiscal and exchange rate reforms. Macroeconomic and structural policies should build confidence and ensure a robust exit from the crisis.
Nigeria
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2024-05-09
Nigeria written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-05-09 with Business & Economics categories.
Over the last decade, Nigeria’s growth has just about kept up with population dynamics. Poverty has increased, and food insecurity is rising. The government is constrained by low domestic revenue mobilization. Governance problems remain pervasive. The external environment—cost of financing—remains difficult, high oil and gas prices notwithstanding. The new administration has set out on an ambitious reform path to restore macroeconomic stability and develop a pro-growth reform agenda.
Nigeria
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2023-02-16
Nigeria written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-16 with Business & Economics categories.
Economic recovery continued to broaden in 2022. Higher oil prices are yet to deliver tangible benefits amid contraction of oil production and costly fuel subsidies. Elevated inflation and lingering external sector pressures, if left unaddressed, may exacerbate macroeconomic instability. This could impact growth, food security and ultimately social cohesion given extreme inequality and high poverty. The upcoming elections provide an opportunity for the new administration to advance structural reforms and offer a more prosperous future.
Nigeria
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2021-02-08
Nigeria written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-08 with Business & Economics categories.
The Nigerian economy is at a critical juncture. A weak pre-crisis economy characterized by falling per capita income, double-digit inflation, significant governance vulnerabilities and limited buffers, is grappling with multiple shocks from the COVID-19 pandemic. Real output is projected to contract by 3.2 percent in 2020, with a weak recovery likely to keep per capita income stagnant and no higher than the 2010 level in the medium term. Policy adjustment and reforms are urgently needed to navigate this crisis and change the long-running lackluster course.
Nigeria
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2019-04-01
Nigeria written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-01 with Business & Economics categories.
This Article IV Consultation highlights that Nigeria’s economy is still recovering from the substantial terms-of-trade shock that triggered the 2016 recession. Persistent structural and policy challenges constrain growth to below the level needed to reduce vulnerabilities and improve development outcomes. With elections now complete, there is a greater chance for faster policy implementation. The authorities’ Economic Recovery and Growth Plan priorities remain appropriate and should be urgently implemented. Revenue-based fiscal consolidation would be required to create space for higher capital and priority spending while improving spending efficiency and strengthening governance. A comprehensive package of urgent policy reforms is required to address vulnerabilities and raise growth over the medium term. The IMF staff suggested that strengthening banking sector resilience requires increasing capital buffers. This includes extending the no dividend distribution rule to all banks with high restructured loans.
Ghana 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Ghana
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-07-23
Ghana 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Ghana written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-23 with Business & Economics categories.
Ghana has been hit hard by the pandemic. The government’s proactive response helped contain the spread of COVID-19, protecting lives and limiting the impact on economic activity. However, partly because of the pandemic, the fiscal position worsened considerably last year, with a sharp increase in public sector debt.
Nigeria
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-03-07
Nigeria written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-07 with Business & Economics categories.
This 2018 Article IV Consultation highlights that the Nigerian economy is exiting recession but remains vulnerable. 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. Economic growth reached 0.8 percent in 2017, driven mainly by recovering oil production. Inflation declined to 15.4 percent year-over-year by end-December, from 18.5 percent at end-2016. Higher oil prices are supporting the near-term projections, but medium-term projections indicate that growth would remain relatively flat, with continuing declines in per capita real GDP under unchanged policies.
Malawi 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Malawi
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-12-20
Malawi 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Malawi written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-20 with Business & Economics categories.
Malawi, a fragile state with one of the highest incidences of poverty, food insecurity and frequent weather-related shocks, has been severely affected by the pandemic. There are signs of gradual recovery and daily COVID-19 positive cases remain relatively low: real GDP growth in 2021 is projected to pick up to 2.2 percent from 0.9 percent in 2020 helped by a good harvest. However, inflation is expected to increase to 9 percent in 2021 from 8.6 percent in 2020, driven by increases in prices of fuel, fertilizer and food, leaving real per capita growth in the negative region.
Guinea 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Guinea
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-07-06
Guinea 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Guinea written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-06 with Business & Economics categories.
While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.
Zimbabwe 2022 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Zimbabwe
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2022-04-08
Zimbabwe 2022 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Zimbabwe written by International Monetary and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-08 with Business & Economics categories.
Zimbabwe experienced severe exogenous shocks (cyclone Idai, protracted drought, and the COVID-19 pandemic) during 2019-20, which along with policy missteps in 2019, led to a deep recession and high inflation. Real GDP contracted cumulatively by 11.7 percent during 2019-20 and inflation reached 837 percent (y/y) by July 2020. Reflecting good rainfall and relaxation of containment measures, real GDP rose by 6.3 percent in 2021. A tighter policy stance since mid-2020 (relative to 2019) has contributed to reducing inflation to 60.7 percent (y/y) at end-2021. However, high double-digit inflation and wide parallel foreign exchange (FX) market premia persist. The economic downturn and high inflation increased the financial system vulnerabilities. Extreme poverty has risen and about a third of the population is at risk of food insecurity. The international community seeks improvements in domestic political conditions and economic policies to initiate reengagement with Zimbabwe. The authorities have started token payments to external creditors in a bid to revive international reengagement.