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November 24, 2020
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In an effort to address urgent financing needs and advance the sustainable development of countries in the era of COVID-19 and beyond, President Muhammadu Buhari has called for the reallocation of unused International Monetary Fund (IMF) reserve assets also known as Special Drawing Rights (SDRs), currently held by developed countries, to support recovery efforts in […]Continue Reading
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By Robert Gregory, Huidan Lin, and Martin Mühleisen In the face of unprecedented uncertainty and the severe economic impact triggered by COVID-19, the Fund continues to adapt its lending. At the same time, it aims to ensure realistic targets, uphold the credibility of programs, and foster national ownership. To date, the Fund has provided financial Continue Reading
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The Executive Board of the International Monetary Fund (IMF) approved the new IMF Central Bank Transparency Code (CBT). The development of the CBT follows on the Board’s direction in April 2019 to update the 1999 Monetary and Financial Policies Transparency Code, and bring it in line with the recommendations of the 2017 Joint Review of the Standards and […]Continue Reading
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In a conversation with IMF Country Focus, the IMF’s mission chief for Nigeria, Amine Mati, described the economic situation confronting Nigeria, and how the country will use the money negotiated with the IMF. What has been the impact of COVID-19 on Nigeria? The COVID-19 pandemic is severely impacting economic activity in Nigeria. The country’s main export […]Continue Reading