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By: on May 17, 2021
The exclusion of Nigeria from the list of 28 countries granted some form of debt pardon by the Executive Board of the International Monetary Fund (IMF) has become worrisome to many, given the current precarious state of the Nigerian economy, particularly with respect to the ever-growing public debt service payment crisis. This IMF support programme structured for the rescue of poor and medium income countries battling with the economic effects of COVID-19 is being administered under the Catastro...
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By: on August 13, 2020
The projection by the International Monetary Fund (IMF) that all revenue that will accrue to the federal government in 2020 will be spent on interest repayments is quite worrisome. The forecast is ian ominous sign that the nation’s economy is indeed in a steep recession whose recovery may not be anytime soon unless drastic measures are put in place. Jesmin Rahman, IMF’s mission chief and senior resident representative for Nigeria, disclosed the projections while speaking at a webinar hosted...
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