Tag: International Monetary Fund

To allow for Talks on Bigger Loan, IMF Delays Angola Meeting

The International Monetary Fund’s executive board postponed a meeting on Angola until at least the second half of August to allow more time for work with authorities in the southern African…

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South Africa Receives $1 Billion Covid-19 Loan From NDB

South Africa received the $1 billion emergency loan that it secured from the New Development Bank to assist in fighting the coronavirus pandemic on July 20, according to the National Treasury. The…

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Naira trades at N381/$

The naira resumed trading on the official market at 381 to the dollar after no quotes for two straight sessions, as the central bank unified the country’s multiple exchange rates,…

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In Move to Unify exchange rates, CBN debits banks N122bn

In move to unify its multiple exchange rates,Central Bank of Nigeria debited N122bn ($338m) from banks’ excess cash with the apex bank before weakening the currency at a retail auction…

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Amid Plans to Unify Multiple Exchange Rates, Naira weakens by 5.3% at Currency Auction

  Nigeria’s central bank devalued the naira at one of its currency auctions, according to people familiar with the matter. The weakening comes after Governor Godwin Emefiele announced last month…

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IMF Predicts Nigeria’s GDP Contraction to 5.4%

The International Monetary Fund (IMF) has predicted that the Nigerian economy will contract by 5.4 per cent in 2020, lower than the 3.4 per cent negative growth it had estimated…

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Amid Covid-19, Mo Ibrahim Urges More African Access to IMF Reserves

These were the words of Sudanese billionaire Mo Ibrahim, ‘‘Poor African nations should be allowed to borrow more from the International Monetary Fund’s reserves to help mitigate the economic impact of the…

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Covid-19: Nigeria’s Possible Intervention?

At a Nigeria and some African countries have been enveloped in the worst human impact of the coronavirus pandemic and beginning to suffer the destructive economic impact of a potential global slide…

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