The International Monetary Fund, IMF, says the war in Ukraine will lead to economic setback for sub-Saharan Africa, including Nigeria, as it brings “a new shock and little room to manoeuvre.” The Fund had forecasted a promising regional recovery for sub-Saharan Africa with economic activities on the upside in 2021. However, the Ukraine war precipitated…
Conditions for IMF’s $3.4 billion loan to Nigeria
Nigeria’s $3.4billion IMF loan comes with many charges, fees, surcharges and interest of between two to three percent per annum, and further devalues the Naira to N389.976/USD as against CBN’s N360/USD. As expected the International Monetary Fund, IMF, yesterday approved Nigeria’s application for $3.471.83 billion to bridge shortfalls in the 2020 budget and respond to…
End World Bank, IMF, SAP Regime
Sometime in 1970, General Yakubu Gowon, in his true element of frankness, returned from a trip to Equatorial Guinea and told journalists at the airport of his wish of a Nigeria that would be a pride of Africa in all respects. Click here to download a copy He always avoided the use of the word,…
WhatsApp us