Ukraine-Russia: Nigeria, Others May Face Commodity Supply Disruptions - IMF   The International Monetary Fund (IMF) says countries that have very close economic links with Ukraine and Russia are at particular risk of scarcity and supply disruptions. It added that poor households across the world would suffer...

IMF, World Bank Partner On $5.2bn To Support Ukraine   The International Monetary Fund (IMF) and World Bank Group have announced they will respond to Ukraine’s request for urgent financing with about $5.2bn cumulatively. They disclosed this in a joint statement titled, ‘Joint IMF-World Bank Group statement...

Crypto Currencies’ Volatility Poses Financial Stability Risks For Nigeria – IMF   The International Monetary Fund says crypto currencies’ high volatility and valuation, as well as their increasing co-movement with equity markets will soon pose risks to financial stability in countries with widespread crypto adoption. The IMF...

Rising Food Prices Fuelling Inflation In Nigeria, Others – IMF     The International Monetary Fund says rising food prices is the major factor fuelling inflation in Nigeria and other Sub-Saharan African countries. According to the body, inflation is rising around the world, but because food accounts for...

IMF To CBN: eNaira May Reduce Deposits In Commercial Banks   The International Monetary Fund has said the eNaira wallet may function as a deposit at the Central Bank of Nigeria and consequently reduce demand for deposits in commercial banks. The comment came barely four weeks after...

Nigerian Banks Closed 234 Branches, 649 ATMs — IMF   The International Monetary Fund, IMF, yesterday, said that Nigerian banks closed 234 branches and 649 Automated Teller Machines, ATMs, in 2020 leading to a decline in the country’s Financial Access Score (FAS) to 4.44 in the...