Multiple Exchange Rates May Increase Nigeria's Debt Burden, Says W’Bank The President of the World Bank Group, David Malpass, has warned that Nigeria’s parallel exchange rate is harmful as it worsens future debt service payments and increases the risk of debt distress. Malpass said this in...

IMF Tasks New Govt on Revenue Generation, Debt Reduction The International Monetary Fund (IMF) has urged the incoming government of President-elect, Sen. Bola Tinubu to take steps to increase the country’s revenue base. The Resident Representative, IMF Nigeria Office, Ari Aisen, who said this during a...

Removal of Trade Barriers to Lift 50m Africans Out of Poverty - IMF The International Monetary Fund says the removal of trade barriers among African countries will help lift 50 million people out of poverty. The IMF said this in its recent report titled, ‘Trade Integration...

Currency Depreciation Pushes Up Public Debt in Africa, Says IMF The International Monetary Fund (IMF) says the depreciation of sub-Saharan African currencies against the US dollar pushes up public debt stock. This is contained in the global lender’s recent blog post titled ‘African Currencies Are Under...

Debt Servicing Rises To $112m Monthly - CBN   Data from the Central Bank of Nigeria’s Weekly International Payments showed that the Federal Government spent $112.35m servicing external debt in January 2023. The amount spent in January was 146.17 per cent higher than the $45.64m spent in...

IMF Cautions As eNaira Transactions Hit N1.4m   The Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva, has cautioned about the unforeseeable “consequences” that could be brought about by the retail central bank digital currencies. Georgieva expressed her concern about retail CBDCs in a May...