iliyande:
if not After she failed in an attempt to devalue Naira, Now she want Buhari to change his Forex Policy..... what is wrong with this woman?

amtaken:
Buhari's economic policies are harsh and very devastating to our economy.

musicwriter:


Mr. Joe Stiglitz (an American) was a former world bank chief economist, and he didn't like what was going on between the IMF, world bank and poor countries. After all efforts to get his organization to change their exploitative ways of doing business, he was fired. Then, he went to the press.

Here is Joe Stiglitz's world bank and IMF's 4 steps to poverty http://www.africason.com/2014/08/world-bank-and-imfs-4-steps-to-poverty.html

You have a choice to educate yourself now or remain forever dumb.

The world bank and IMF are nothing but neo-colonial instruments to keep on exploiting third world countries. They've done more harm than good in most countries. See below for details.

A Typical Example of How the World Bank and IMF Made Ghana Poorer.
http://www.africason.com/2014/08/typical-example-of-how-world-bank-and.html

How The World Bank and IMF Control Poor Nations
http://www.africason.com/2014/08/how-world-bank-and-imf-control-nations.html

IMF and World Bank Are Major Cause of Poverty in Africa.
http://www.africason.com/2014/08/imf-and-world-bank-are-major-cause-of.html

Poor Countries Have Paid More Money to IMF and World Bank Than They Borrowed
http://www.africason.com/2014/08/poor-countries-have-paid-more-money-to.html

Revealed!!. World Bank and IMF's 4 Steps To Poverty - by renegade world bank staff!.
http://www.africason.com/2014/08/world-bank-and-imfs-4-steps-to-poverty.html

How World Bank and IMF Riped-Off Poor African Countries.
http://www.africason.com/2014/08/how-world-bank-and-imf-rip-off-poor.html

World Bank Structural Adjustment Program (SAP) Destroyed African Economies.
http://www.africason.com/2014/08/world-bank-structural-adjustment.html

World Bank and IMF; Agent of Poverty or Development?
http://www.africason.com/2014/08/world-bank-and-imf-agent-of-poverty-or.html

The World Bank and The Development Delusion.
http://www.africason.com/2014/08/the-world-bank-and-development-delusion.html

IMF and World Bank: Puppets of Few Rich Nations.
http://www.africason.com/2014/08/imf-and-world-bank-puppets-of-few-rich.html

IMF and World Bank: Neo-Colonial Tool to Exploit Third World Countries.
http://www.africason.com/2014/08/imf-and-world-bank-neo-colonial-tool-to.html

The IMF and World Bank Help Keep Africa Dependent on More Loan.
http://www.africason.com/2014/08/the-imf-and-world-bank-help-keep-africa.html

IMF Misleads the World With Rhetorics and PR on Poverty Reduction in Africa.
http://www.africason.com/2014/10/imf-rhetorics-and-pr-on-poverty.html

omenka:
Just as someone else said, IMF and the West are simply terrified we are on the right track to fixing this using home grown mechanisms.

They know the wider implication of us succeeding without their inputs- other struggling African economies would likely adopt our strategies rendering them less potent in deciding the trends in our domestic affairs.

project50:
you are a rat for calling jews when mohammad is ur problem

rusher14:

[b]
I laugh when I read contributions like this.

Are there no eggheads and technocrats in the top echelon of the Ministry of Finance?

Kemi knows nothing yet Ogun State, her past stomping ground makes substantial IGR?

Or you think you are more intelligent than Emefiele?

You guys always try to personalise issues by so doing defeating your defence.

This issue is a matter of choice, and the government has chosen what it considers the lesser evil.

At present, you would have connected people probably benefiting from round tripping. Yet, that is less painful for the masses than devaluation of a currency leading to a Zimbabwe-esque situation.

Runaway inflation is nothing the masses can bear. So tightening trousers, getting forex for only the essentials appears to be the thrust of our policies.

The present government is betting on its vaunted and expected ability to provide infrastructure, the backbone for enterprise.

They feel there's nothing to gain by devaluation other than having vultures feast on our basic industries and materials.

In the often cited Nigerian maxim " who devaluation don epp"?

Please provide reasons why we must devalue our currency, how it is beneficial to the common man, how it impacts his take home pay, access to basic health care and infrastructure and how it promotes local enterprise. Perhaps then we can begin to accept it as the right alternative. [/b]

Caseless:
you know nothing about the economy.

iliyande:
if not After she failed in an attempt to devalue Naira, Now she want Buhari to change his Forex Policy..... what is wrong with this woman?

grandstar:


There is no need arguing with you? Buhari said he won't devalue the currency yet it crashed to 320! Is that not worse?

The IMF is simply telling you the obvious. Water will always find its level. By not devaluing , the currency crashed

Has the trip to China led to an improvement in thwe value of the currency. Even China devlued its currency recently.

The president is just chasing the wind. As long as he refuses to devalue, the economy will keep suffering.

The IMF is simply telling the country the truth.

Your dollar income has crashed by 70% and you still want your exchange rate to remain the same? Its not possible.

Sanusi, Soludo and Utomi have all condemned his policies. Sanusi even said they have worked nowhere in the world!

Buhari means well but unfortunately,his econmic s however is lamentable

herbie27:
And your government knew all these your fact and decided to go seek for loan from the IMF?.

You can forever remain dumb with your internet false stories or believe that your nation needs more than adding yuan to its reserve and nt plan for exportation of other things to favour it's unfavourable balance of payment.

modath:




IMF, na by force? Your view is not for Africa's independence or progress!

You offer hep with condition, person say hin nor want, na by force?

Who IMF hep don favour before?

http://www.bloomberg.com/news/articles/2015-06-05/angola-central-bank-devalues-currency-as-oil-slide-hits-revenue

http://www.vanguardngr.com/2016/04/angola-hit-collapse-oil-prices-seeks-imf-aid/


http://venturesafrica.com/a-tough-year-awaits-angola-imf/

herbie27:
My brother you shld have checked my previous post 4 a better understanding of my view....i threw lights on devaluation so he would understand.

Kemi has nothing to do wit Ogun state IGR because she's nt the masses neither is she the governor, jst as she has nothing to do wit either Lagos state which has the highest IGR nor Rivers state that has the second largest IGR.

The IGR is the income that accrue to the state through its masses who pay taxes and are involved in various stages of production with government activities, Lagos state has the biggest because it's and most industrious region in Nigeria wit it's high population.

I repeat IGR has nothing to do wit Kemi

grandstar:


The president is an economic illiterate who brought upon the country an epic petrol scarcity. Things aree sinking and you are talking China. 1 + 1 = 2 and running to China won't change the obvious. Lets see if running to China will bring the naira from 320 to 199/ Lubbish!

grandstar:


The president is an economic illiterate who brought upon the country an epic petrol scarcity. Things aree sinking and you are talking China. 1 + 1 = 2 and running to China won't change the obvious. Lets see if running to China will bring the naira from 320 to 199/ Lubbish!

King44:
so finally if the currency is devalued what would b d exchange rate of naira to dollar I guess $1 to 600 naira all becos we want a fair trade and smooth running economy bt unfortunately if we do worse would be the case

grandstar:


The exchange rate of a currency is determined by fundamentals and not by what anybody wants even the IMF. The IMF too is subject to the fundamentals.

The rate can't drop to 600.

In 2009, the price of oil fell from $148 in 2008, to $35 that year.

The official rate then was 120 to $1. There was pressure on the naira becuase of a drop in the forex income.

Soludo, the then CBN governor refused to devalue at the official rate. The naira crash to 190 at the parallel market.

To support the 120 at the official rate, the foriiegn reserves went from $60b to $41b in little or no time yet did nothing to stop the naira from crashing.

Sanusi now came in and immediately devalued the currency to 150. Immediately, the parallel rate went from 190 to 155. And the pressure on the naira eased. Sanusi said the official rate and that of the black market must have maximum of 3% difference. That anything is excess is not right.

If the naira is devalued to around 250, the excess demand at the official rate will dry up and the parallel rate will probably hit around 255.

There is no reason for it to touch 600.

It can however touch 600 if the government decides to borrow recklessly and pump too much money in circulation. It can not just touch 600 for no reason.

Its the fundamentals that count

The massive difference of 60% between the official and parallel rate is more than enough indication that the currency needs to be devalued.

The country can not continue leaving in denial!

grandstar:


The president is an economic illiterate who brought upon the country an epic petrol scarcity. Things aree sinking and you are talking China. 1 + 1 = 2 and running to China won't change the obvious. Lets see if running to China will bring the naira from 320 to 199/ Lubbish!

Caseless:
@herbie27, hide ur head in shame and read this.

udatso:

You sir are literate but ignorant (no insult intended). In simple terms, running to China is to make our demand for dollar reduce to the minimum.

herbie27:
The three enemies of man are poverty, illiteracy and ignorance.

Your government running to China cannot make the demand for the Dollars reduce to the minimum.

There is no nation in the world dat u won't find the dollar, find out from economist.

udatso:

How do you know that?
Did I in anyway suggest Elimination of dollar totally in my post?

enlightenedmind:


Dont even worry about that one. We are divided but when it comes to the west, they are a common enemy to all africans. We do not want them here. Even if we fight to death. We will fight on our own.