International Monetary Fund (IMF) / Press Release

Source: International Monetary Fund (IMF) | Feb 08, 2023

International Monetary Fund (IMF) Executive Board Concludes 2022 Article IV Consultation with Nigeria

Nigeria’s economy has recouped the output losses sustained during the COVID-19 pandemic supported by favorable oil prices and buoyant consumption activities

On February 6, 2023, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Nigeria. Nigeria’s economy has recouped the output losses sustained during the COVID-19 pandemic supported by favorable oil prices and buoyant consumption activities. Gross domestic product (GDP) adjusted for inflation has already…

Source: International Monetary Fund (IMF) | Jun 15, 2022

IMF Staff Concludes Staff Visit with Nigeria

IMF team led by Ms. Jesmin Rahman held meetings with the Nigerian authorities from June 6-10, 2022, to discuss recent economic and financial developments

Real GDP growth is broadening to all sectors except oil, but inflation remains elevated; The economic outlook is challenging with high food prices raising food security concerns. An International Monetary Fund (IMF) team led by Ms. Jesmin Rahman held meetings with the Nigerian authorities from June 6-10, 2022, to discuss…

Source: International Monetary Fund (IMF) | Feb 08, 2022

IMF Executive Board Concludes 2021 Article IV Consultation with Nigeria

The Nigerian economy is recovering from a historic downturn benefitting from government policy support

On January 31, 2022, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation [1] with Nigeria. The Nigerian economy is recovering from a historic downturn benefitting from government policy support, rising oil prices and international financial assistance. Nigeria exited the recession in 2020Q4 and output…

Source: International Monetary Fund (IMF) | May 16, 2020

Coronavirus - Benin: International Monetary Fund (IMF) Executive Board Approves a US$125 Million Disbursement Under Benin’s Extended Credit Facility (ECF)-Supported Arrangement

The authorities are implementing a response plan that will raise significantly health spending and provide support to vulnerable households and impacted businesses

The Executive Board decision allows an immediate disbursement of US$125.1 million to Benin to address the urgent financing needs stemming spread of COVID-19 and to mitigate its economic and social impacts; The authorities are implementing a response plan that will raise significantly health spending and provide support to vulnerable households…

Source: International Monetary Fund (IMF) | Apr 28, 2020

Coronavirus - Nigeria: IMF Executive Board Approves US$ 3.4 Billion in Emergency Support to Nigeria to address the COVID-19 Pandemic

The COVID-19 outbreak has magnified existing vulnerabilities, leading to a historic contraction in real GDP growth and to large external and fiscal financing needs

The IMF approved US$3.4 billion in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices; The COVID-19 outbreak has magnified existing vulnerabilities, leading to a historic contraction in real…

Source: International Monetary Fund (IMF) | Apr 07, 2020

Coronavirus - Nigeria: Statement by IMF Managing Director Kristalina Georgieva on Nigeria

President Buhari’s administration is taking a number of measures aimed at containing the spread of the virus and its impact

Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) issued the following statement: “Nigeria’s economy is being threatened by the twin shocks of the COVID-19 pandemic and the associated sharp fall in international oil prices. President Buhari’s administration is taking a number of measures aimed at containing the…