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Nairaland Forum / Nairaland / General / Politics / Nigeria Finally Decides Not To Borrow From IMF (17340 Views)
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Nigeria Finally Decides Not To Borrow From IMF by 360metrosports: 2:49pm On Feb 21, 2017 |
The Federal Government will not be borrowing a penny from the World Bank as initially planned, says Finance Minister Kemi Adeosun said on Tuesday. The government will instead be be pursuing its own economic reform plan to save the economy from recession. "For us the IMF is really a lender of last resort when you have balance of payments problem. Nigeria doesn't have balance of payments problems per se, it has a fiscal problem," Adeosun told CNBC in an interview. "We are already doing as much reform as any IMF programme would impose on Nigeria," she said. "Nigerians want to take responsibility for their future. We must have our home-grown, home-designed programme of reform." Adeosun said non-oil revenues were improving while the government was fine-tuning an economic reform plan needed to support an application for a loan of at least $1 billion from the World Bank. It is also seeking further funds from the African Development Bank. "Non-oil revenue is improving very steadily. All the measures we have put in place are beginning to yield fruits," she said, without giving numbers. "Oil production is back up, we are very grateful for that, but we should be careful for getting excited about that." Recall that officials said recently that Nigeria plans to finalise its proposal to the World Bank this month. The country needs to plug a gap in its record 7.3 trillion naira ($23.17 billion) 2017 budget, which contains a number of measures aimed at stimulating the economy. It had initially promised to submit an economic plan to the World Bank by the end of December but did not do so. http://www.metronaija.com/2017/02/nigeria-finally-decides-not-to-borrow.html cc: lalasticlala mynd44 6 Likes 1 Share |
Re: Nigeria Finally Decides Not To Borrow From IMF by madridguy(m): 2:53pm On Feb 21, 2017 |
I wish I could help the Nigeria Government with 7.3 trillion naira ($23.17 billion). 9 Likes 2 Shares |
Re: Nigeria Finally Decides Not To Borrow From IMF by Viergeachar: 2:55pm On Feb 21, 2017 |
Osinbajo in action Nice one 53 Likes 4 Shares |
Re: Nigeria Finally Decides Not To Borrow From IMF by Godprotectigbo5(f): 2:58pm On Feb 21, 2017 |
unclezuma where u dey... i jsut dey miss u....... back to the topic i can borrow una money if una need it |
Re: Nigeria Finally Decides Not To Borrow From IMF by Nobody: 2:58pm On Feb 21, 2017 |
wehdone sir my acting president, now the difference is clear 37 Likes 1 Share |
Re: Nigeria Finally Decides Not To Borrow From IMF by AdonaiRoofing(m): 2:58pm On Feb 21, 2017 |
That's good Contact us for all your roofing jobs and roof maintenance etc 1 Like |
Re: Nigeria Finally Decides Not To Borrow From IMF by Nobody: 2:59pm On Feb 21, 2017 |
Ok |
Re: Nigeria Finally Decides Not To Borrow From IMF by joseph1832ng: 2:59pm On Feb 21, 2017 |
Passingshot, how are you today? I now want to believe the FG listens and listen very well. If need be, let the FG set a committee to look into the allegation Sanusi made about the missing 20 billion dollars. I want to believe if that sum is re-injected into the economy, it will do a lot of good. Borrowing never helps anyone. Not now, not never. 11 Likes 3 Shares |
Re: Nigeria Finally Decides Not To Borrow From IMF by Josegun(m): 3:00pm On Feb 21, 2017 |
Better 1 Like |
Re: Nigeria Finally Decides Not To Borrow From IMF by cosmatika(m): 3:00pm On Feb 21, 2017 |
Set of confused idiats. It's very clear nw to even ur ZoneBs dat GEJ wasn't the problem. One good head(Okonjo Iwuala) is better than five rotten heads(Buhari+Adeosun+Lai+Amaechi+BRF? 37 Likes 1 Share |
Re: Nigeria Finally Decides Not To Borrow From IMF by mmsen: 3:00pm On Feb 21, 2017 |
While it's great that will they not further burden the nation with even more debt every day it becomes clearer by the day that this government never had a plan for Nigeria. 3 Likes |
Re: Nigeria Finally Decides Not To Borrow From IMF by origima: 3:00pm On Feb 21, 2017 |
Do you mean to roof the Economy? |
Re: Nigeria Finally Decides Not To Borrow From IMF by aku626(m): 3:02pm On Feb 21, 2017 |
I guess our future does matter now. Thanks to the acting president 16 Likes |
Re: Nigeria Finally Decides Not To Borrow From IMF by duni04(m): 3:02pm On Feb 21, 2017 |
Price of oil up, production up, now we're having surpluses every month from oil savings because our the budget Is pegged at under USD50/barrel while oil price is more than USD50/barrel. Plenty of construction, FDI and FPI to look forward to. Now we just need to fine tune our forex policy to accommodate all the foreign investors that will be lining up to get a share of the dollar windfall that's coming. 11 Likes |
Re: Nigeria Finally Decides Not To Borrow From IMF by AutoReportNG2: 3:02pm On Feb 21, 2017 |
My love for Osibanjo these days is second to none.. Make una no tell me say na Baba tell am what to do oo, after all na Baba wan borrow the money before sef.. God bless Mr. Acting President (GCON) 10 Likes |
Re: Nigeria Finally Decides Not To Borrow From IMF by pat077: 3:03pm On Feb 21, 2017 |
OK. A good one |
Re: Nigeria Finally Decides Not To Borrow From IMF by frisky2good(m): 3:03pm On Feb 21, 2017 |
Soon as Bubu comes back we will start talking of borrowing again. 6 Likes |
Re: Nigeria Finally Decides Not To Borrow From IMF by Nobody: 3:03pm On Feb 21, 2017 |
I think this is a sound decision. The interests payable on those IMF loans are nothing to write home about. We should look inward atimes to solve our problems 7 Likes |
Re: Nigeria Finally Decides Not To Borrow From IMF by onatisi(m): 3:04pm On Feb 21, 2017 |
Viergeachar:And you believe them? Nawa o 2 Likes |
Re: Nigeria Finally Decides Not To Borrow From IMF by SalamRushdie: 3:04pm On Feb 21, 2017 |
Just a month without that economic lunatic called Buhari Nigeria is beginning take the right steps 9 Likes |
Re: Nigeria Finally Decides Not To Borrow From IMF by Adekorya: 3:05pm On Feb 21, 2017 |
Good. 1 Like |
Re: Nigeria Finally Decides Not To Borrow From IMF by delli(m): 3:05pm On Feb 21, 2017 |
Hmmmmm Hope they don't go another way round 3 Likes |
Re: Nigeria Finally Decides Not To Borrow From IMF by Nobody: 3:05pm On Feb 21, 2017 |
SalamRushdie:if you cannot criticize constructively, it would pay you to keep shut. 18 Likes 1 Share |
Re: Nigeria Finally Decides Not To Borrow From IMF by BizBayo: 3:05pm On Feb 21, 2017 |
This is really a nice development. I love it 2 Likes 1 Share |
Re: Nigeria Finally Decides Not To Borrow From IMF by obyrich(m): 3:06pm On Feb 21, 2017 |
Economy recovering after Buhari hands over power temporarily to Osibanjo. Yet Zombies will keep shouting Sai Baba. 5 Likes 1 Share |
Re: Nigeria Finally Decides Not To Borrow From IMF by KINGwax007(m): 3:06pm On Feb 21, 2017 |
Nice move 1 Like |
Re: Nigeria Finally Decides Not To Borrow From IMF by oduastates: 3:06pm On Feb 21, 2017 |
IMF was ,as usual , giving those poisonous conditions. 1 Like |
Re: Nigeria Finally Decides Not To Borrow From IMF by dokunbam(m): 3:07pm On Feb 21, 2017 |
Viergeachar: Kool 1 Like |
Re: Nigeria Finally Decides Not To Borrow From IMF by KINGwax007(m): 3:07pm On Feb 21, 2017 |
obyrich:greatest since. So, the foreign reserve started rising after the VP took over, the increase in oil price and oil production started with the VP? Dunce! 17 Likes 3 Shares |
Re: Nigeria Finally Decides Not To Borrow From IMF by Royalfurnitures: 3:08pm On Feb 21, 2017 |
Good, no need to borrow, let's manage what we have Please check out my signature for quality and durable furniture 2 Likes |
Re: Nigeria Finally Decides Not To Borrow From IMF by AleAirHub(m): 3:08pm On Feb 21, 2017 |
Thank God..... Acting President Is Working 5 Likes |
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