Nigeria: Post-Financing Assessment Discussions-Press Release; and Staff Report

February 9, 2024

Preview Citation

Format: Chicago

Nigeria: Post-Financing Assessment Discussions-Press Release; and Staff Report, (USA: International Monetary Fund, 2024) accessed November 21, 2024

Summary

The new administration under President Tinubu has started its term with bold reforms in challenging circumstances. The authorities quickly implemented two major reforms: removing fuel subsidies and unifying the various official foreign exchange windows. Growth is lackluster, inflation high and accelerating, and pressures on the naira persist. With widespread poverty and rising food insecurity, social demands for government support are growing. The external environment—access to financing, food prices—remains difficult, high oil and gas prices notwithstanding.

Subject: Central Banks, Energy subsidies, Expenditure, External debt, Inflation, International organization, International reserves, Monetary policy, Prices, Public debt

Keywords: Analytical balance balance sheet, CBN definition, CBN financing, CBN team, Energy subsidies, Global, Government support, Inflation, Inflation-depreciation spiral, International reserves

Publication Details

Pages:

33
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/049
Stock No:

1NGAEA2024001
ISBN:

9798400267956
ISSN:

1934-7685

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