IMF executive board discusses Nigerian economy

摘要

UNDER ARTICLE IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. This year's report on Nigeria was recently discussed by the executive board of the IMF. The directors welcomed the authorities' policy agenda of enhancing transparency, strengthening governance, improving security, and creating jobs. Directors noted that the Nigerian economy has been hit hard by the decline in oil prices, which has slowed growth sharply and led to macroeconomic imbalances. Given the uncertain global outlook, directors stressed the need for significant macroeconomic adjustment. They highlighted the importance of implementing a coherent package of policies, in consultation with IMF staff and development partners, to safeguard fiscal sustainability and reduce external imbalances, and advancing structural reforms to support inclusive growth.