Nigeria: 2009 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; Statement by the IMF Staff Representative; and Statement by the Executive Director for Nigeria

November 12, 2009

Preview Citation

Format: Chicago

Nigeria: 2009 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; Statement by the IMF Staff Representative; and Statement by the Executive Director for Nigeria, (USA: International Monetary Fund, 2009) accessed November 23, 2024

Summary

This 2009 Article IV Consultation highlights that reforms initiated earlier this decade in Nigeria have averted the boom–bust pattern that characterized previous oil price cycles and better prepared the economy to deal with the global financial crisis. Non-oil growth averaged 9 percent from 2004 to 2008. The pace of economic activity has nevertheless slowed in 2009. Executive Directors have welcomed the authorities’ commitment to a strong macroeconomic and financial policy framework that can support an early recovery and lay the basis for the successful implementation of Nigeria’s Vision 2020 development plan.

Subject: Banking, Commercial banks, External debt, Financial institutions, Fiscal policy, Inflation, Oil prices, Prices, Public debt

Keywords: African department, Article iv consultation--informational annex, Bank, Bank assets, Bank management, Commercial banks, Consultation, Consultation--informational annex, CR, Global, Inflation, Intervened bank, ISCR, Oil prices, Price

Publication Details

Pages:

72
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2009/315
Stock No:

1NGAEA2009001
ISBN:

9781451829082
ISSN:

1934-7685

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