The International Monetary Fund has said that the global boom of cryptocurrencies poses new problems for financial stability. The IMF said this in a blogpost on Friday. According to the body, the crypto ecosystem allows for quick and easy payments,…
Developing countries are expected to receive $275 billion out of the International Monetary Fund’s (IMF) $650 billion Special Drawing Rights (SDRs) to be distributed among member countries based on their quota shares in the IMF. IMF’s Managing Director, Ms Kristalina…
The Board of Governors of the International Monetary Fund (IMF), has approved a general allocation of Special Drawing Rights (SDRs) equivalent to $650 billion (about SDR 456 billion) to boost global liquidity. In a statement issued on Tuesday in Washington…
In a virtual meeting with the representatives of the Federal Government, the mission of the International Monetary Fund stated that the resurfacing of fuel subsidies was concerning. The IMF mission led by Jesmin Rahman, according to a press release, expressed…
By Kayode Tokede The International Monetary Fund (IMF), says sub-Saharan Africa’s low-income countries face additional external funding needs of about 245 billion dollars over the next five years or 425 billion dollars for the whole region. IMF’s Director, African Department,…
Managing Director, International Monetary Fund (IMF), Kristalina Georgieva says the world is witnessing a revolution in digital money that can make remittances easier, faster and cheaper. She said this on Wednesday in Washington, D.C. during her opening remarks at the…
The International Monetary Fund (IMF) has revised upward its growth forecast for the Nigerian economy in 2021 to 2.5 per cent from its earlier projection of 1.5 per cent it announced in January. The IMF announced the new projection in…
The International Monetary Fund (IMF), the global financial watchdog is projecting that Nigeria’s Dangote Refinery would provide an elixir for the country’s economy when it is completed and start production by 2022. In its latest report on Nigeria’s economy, the…
By Kayode Tokede The International Monetary Fund (IMF) has said that multiple rates, limited flexibility, and foreign exchange shortages pose challenges to Nigeria’s economy. IMF directors on Monday in their 2020 Article IV consultation on Nigeria economy recommended a gradual…
The International Monetary Fund (IMF) has in its latest World Economic Outlook (WEO) projected global growth for 2021 to be 5.5 per cent as against 5.2 per cent it forecast in October 2020. Gita Gopinath, Chief Economist of the fund,…
