Nigeria: Fourth Review Under the Policy Support Instrument: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Nigeria

October 23, 2007

Preview Citation

Format: Chicago

Nigeria: Fourth Review Under the Policy Support Instrument: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Nigeria, (USA: International Monetary Fund, 2007) accessed November 23, 2024

Summary

The staff report for the Fourth Review on Nigeria highlights developments under the Policy Support Instrument (PSI). Robust non-oil sector growth significantly strengthened fiscal and external positions, reducing inflation that surpassed the original program goals. Fiscal risks have increased in the short term because recent practices on the use of an oil price rule and oil savings, which have been important to macroeconomic performance, are being revisited. The government’s consensual approach within the framework of the constitution offers the prospect of a lasting solution.

Subject: Commodities, Fiscal policy, Fiscal stance, Monetary base, Money, Oil, Oil prices, Oil, gas and mining taxes, Prices, Structural reforms, Taxes

Keywords: CR, Fiscal stance, Gas and mining taxes, Global, Government management, IMF's Policy Support Instrument, ISCR, Monetary base, Nigerian authorities, Oil, Oil prices, Policy agenda, Staff appraisal, Supervision of the CBN

Publication Details

Pages:

70
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2007/353
Stock No:

1NGAEA2007005
ISBN:

9781451829051
ISSN:

1934-7685

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