Economic growth
Nigeria's economy achieved its fastest growth in about a decade in the fourth quarter of 2024, driven by key reforms, particularly exchange rate reforms instituted by the Central Bank of Nigeria (CBN). These reforms, led by the CBN's Governor, Olayemi Cardoso, unified all exchange rates into
Economic growth
The World Bank's latest report, Nigeria Development Update (NDU) 2024, highlights the improvements in Nigeria's macroeconomic situation under the Bola Ahmed Tinubu administration. The report, titled "Building Momentum for Inclusive Growth," reveals that economic growth in the fourth quarter of 2024 increased to 4.
Economic growth
The World Bank has sounded a warning on Nigeria's economic trajectory, cautioning that the current growth rate may be insufficient to achieve the federal government's ambitious goal of becoming a $1 trillion economy by 2030. According to the Nigeria Development Update (NDU) report, titled 'Building
Cabinet officials
Nigeria's Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has stressed the importance of domestic revenue mobilization in achieving sustainable development finance. Edun made this announcement at the World Bank/International Monetary Fund (IMF) Annual Meetings in Marrakech, where he represented Nigeria and led
Cabinet officials
Caretaker Finance Minister Dr Shamshad Akhtar emphasized the government's commitment to transparency, which is crucial for maintaining a positive credit rating and fostering investor confidence in Pakistan's global financial markets. During her visit to Morocco for the annual meeting of the World Bank and International Monetary
Cabinet officials
Governor Senad Softic of the Central Bank of Bosnia and Herzegovina (CBBH) attended the Annual International Monetary Fund (IMF) and World Bank Meeting in Marrakesh, Morocco, from 9 to 15 October 2023, representing the BiH delegation. The meeting discussed global economic developments, international financial markets, and the impact of geopolitical
Cabinet officials
The federal government is exploring the introduction of new tax reforms to boost revenue and reduce its reliance on borrowing, as it seeks to revive the economy. According to Wale Edun, the minister of finance and coordinating minister of the economy, the government will focus on policies for domestic resource
International Monetary Fund
The global economic recovery is experiencing a setback due to the Middle East conflict and ongoing crises, raising concerns about the ability of central banks to contain inflation without triggering a recession. The International Monetary Fund (IMF) reported that the pace of global economic recovery is slowing, and a new
International Monetary Fund
The FTSE 100 index in London is broadly unchanged at 7,632, while other major European bourses are in the red. Oil prices are pushing higher amid concerns about the war between Israel and Hamas and rising tensions in the region. Meanwhile, gas prices have retreated after a spike due
Climate change
A multi-million water project is set to benefit thousands of residents in Marsabit County, funded by the World Bank. The project will address the acute shortages of clean water and sanitation services in the region, covering water and sanitation aspects with the installation of a water treatment facility. The county
Climate change
The World Bank has approved $500 million for the Nigeria for Women Program Scale Up (NFWP-SU) to support the Nigerian government in improving the livelihoods of women in the country. The financing will focus on increasing economic opportunities for women, addressing gender inequality, and enhancing their resilience to climate change.
International Monetary Fund
Ukrainian Prime Minister Denys Shmyhal reported "fruitful meetings" with international partners in Washington this week, resulting in promises of $5 billion in additional funding to support Ukraine's ongoing battle against Russia. Shmyhal's meetings with representatives from the International Monetary Fund, the World Bank, and
