IMF: Nigeria will navigate global shocks due to Tinubu’s reforms

The International Monetary Fund (IMF) says Nigeria will navigate global shocks due to the reforms implemented by President Bola Tinubu.

The International Monetary Fund says Nigeria will navigate global shocks due to the reforms implemented by President Bola Tinubu.

In a statement by the IMF, Schimmelpfennig said authorities had taken “important steps” to stabilise the economy, enhance resilience, and support growth.The steps, he noted, include ending the CBN’s financing of the fiscal deficit, removing costly petrol subsidy, and improving the functioning of the foreign exchange market.

“The reforms since 2023 have put the Nigerian economy in a better position to navigate this external environment. Looking ahead, macroeconomic policies need to further strengthen buffers and resilience, while creating enabling conditions for private sector-led growth.

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