By Obadiah Mailafia
LAST week the boys from Washington were in our country under the framework of the IMF Article IV Visitation exercise. Under the statutes of the Fund, the Article IV team is authorised to carry out economic and surveillance activities in member countries. They normally meet with key government functionaries and with functionaries of key agencies such as the Central Bank, Ministry of Finance, FIRS and with bankers and other captains of industry for the purpose of undertaking a fair and objective assessment of the health of the economy.
In their summary report for this year, the IMF team noted that macroeconomic growth in Nigeria remains precarious, while inflation is rising and external vulnerabilities are worsening. While welcoming the recent fiscal consolidation and the tightening of monetary policy they pointed out that major policy adjustments are still very much needed. Led by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, the…
Source: Vanguard Newspaper
