Economy still vulnerable despite recession exist – IMF


Christine Lagarde, IMF boss

The IMF on Friday said that in spite of Nigeria exiting the recession, the economy of the country was still vulnerable.

The IMF in a statement by Raphael Ranspach, its Media and Press Officer, welcomed the Federal Government’s actions to improve the power sector and business environment under the Economic Recovery and Growth Plan (EGRP).

The Fund explained that macroeconomic and structural reforms remained urgent to contain vulnerability and support sustainable private sector led growth.

The IMF said its staff team led by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, visited Nigeria from Dec. 6 to Dec. 20, 2017 to conduct the 2018 Article IV consultation, which led to this report.

“Overall growth is slowly picking up but recovery remains challenging. Economic activity expanded by 1.4 per cent year-on-year in the third…

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