IMF is a joke!

Remove forex ban on 41 imports?

Whose interest is IMF serving?

AlhajaChinyere:
Useless, indisciplined race of idiots. Black Africans will suffer from generation to generation. Like stupid slaves they will spenf the borrowed money on consumer products to big up against each other.

190m idiots that produces nothing!

you will be the one that will suffer for generations to generations,take back your curse,black africans will progress

FG should forget IMF and look towards China. IMF policies are about what benefit the West and to underdevelop Africa

AlhajaChinyere:


Dull inexperienced? How did the ugly fat yamlegged world bank woman do?
Until we as a people start producing what we consume we might as well stop procreating!!! We are currently just surviving and of no use to the world!

your poisoned mind will destroy you

Well, those aren't conditions for the loan, right? Just want IMF wants which Nigeria has no obligation to follow through.

this is pathetic, A country with good agriculture terrain, numerous minerals resources do you know Nigeria has 15 percent of the world resources still yet we live in abject poverty less than one dollar per day... a country can suffer natural disaster but it can be manage but when you have human disaster it will never be manage except we overhaul the whole system.

now back to IMF, the condition is like asking for bread to collect butter... the summary is they want us to remain consuming nation( transfer inflation) not exporting nation

GREAT FOR WHO?EXPORTING COUNTRIES RIGHT.NIGERIANS AND SELF HATE

Blue3k:
These changes would be great but they wont do it. Buhari's economic policies have proven to be failures. Nigeria consistently had low growth and high rates of unemployment every quarter. The central bank policy was contradictory on its face. You want strong currency that encourages imports. Then you ban goods arbitrarily because you save forex to create jobs.

Lol people will foolishly argue the IMF is turning them into slaves like they forced them take money. Everyone knows the IMF is the lend of last resort. If the country fixed it's economy itself you wouldn't be running cap in hand.

Blue3k:
These changes would be great but they wont do it. Buhari's economic policies have proven to be failures. Nigeria consistently had low growth and high rates of unemployment every quarter. The central bank policy was contradictory on its face. You want strong currency that encourages imports. Then you ban goods arbitrarily because you save forex to create jobs.

Lol people will foolishly argue the IMF is turning them into slaves like they forced them take money. Everyone knows the IMF is the lend of last resort. If the country fixed it's economy itself you wouldn't be running cap in hand.

There is no good policy from IMF.tell me one country that has followed IMF policies and prospered.

I simply cannot see how you can stop the inordinate hunger for foreign imports without floating the naira. Not having an open, market driven currency exchange rate will continue to fuel the fire ravaging local content and destroying REAL productivity.

Whatever we import today is a strategic weapon against our economy and Covid 19 has proven that we can neither be economically safe or prosperous that way.

Nigeriabiafra80:
Buhari have sold the country

At least we have rail to show for it and benefit from for decades. What is GEJa lasting enduring legacy in infrastructure?

It’s one thing paying debt for infrastructure you can see and enjoy, it’s another paying debt for Mansions in Dubai and London

emmnprince:
Chinese are not investing in Africa. Chinese are on a mission to enslave Africa in the future. They cannot try that with the Europeans or the Americans the Australians, but Africa. Africa need to wise up. If not, they are potential future slave.

I pray you live up to 390 years to experience the enslavement of Africa, and you also a slave.

Chinese cannot enslave Africa economically,its never been done,even the whites could not do it,the whites only succeeded in conquering Africa through war.If the chinese wanted to enslave Africa they can do it at any time,given that they have superior military capabilities but they cant succeed in enslaving Africa economically,Africans are too sharp for that.The only thing killing Africans is corruption,rid Africa of corruption and watch how we boom,especially Nigeria,corruption is our weakness.

onoja12:
GREAT FOE WHO?EXPORTING COUNTRIES RIGHT.NIGERIANS AND SELF HATE

You're right Nigerians like you hate yourself. You foolidhly defend stupid economic policies thst dont benefit you. Nigeria is an exporting nation. The import ban list makes doing business more expensive and it doesn't address the fundamental issue of domestic productivity. Cement for example is more expensive in Nigeria than in other countries resulting in higher cost of construction in plsve with massive housing deficit.

Nigeria wants banks to lend out more cash then in same breath complain about inflation. If you let naira settle to actual rate you would actually import less. The CBN is clearly making contradictory policies. The ERGP failed but you dont want to talk about that. It's the IMF you ran to that's your issue.

isthatso:


At least we have rail to show for it and benefit from for decades. What is GEJa lasting enduring legacy in infrastructure?

We have rail from gej such as u said
So tell me what Buhari has achieve,accomplish and completed

IMF has come again with their anti developing nations policies.

We can unban the 41 items and put stringent import duties on them for example 80% of the cost price of the items will be charged as import duty.

rottennaija:
Abeg make IMF rear matter na? Na wetin? We have been a puppet of the west for so long practicing their voodoo economic policies and how has that benefited us?

Abeg, make we practice China model small and see if it will be of good use to use. Especially now that China is investing massively in Africa.

And what's stopping us in developing our own model?

abeggnow:
There is no good policy from IMF.tell me one country that has followed IMF policies and prospered.

Egypt followed steps by the IMF and improved. The avhieved higher economic growth and lower unemployment rate after 2016. Instead of whining about IMF suggestions why not ask yourself why Buhari policies failed in every metric. The ERGP failed targets and unemployment rate kept climbing.

On the fourth review of Egypt’s economic reform program, after allowing a dispense of US$2 billion following approval by the Executive Board in February, bringing its total dispensed funding to $10 billion from a S$12 billion loan.

The IMF attributed this improvement to measures such as liberalization of the exchange rate and prudent monetary policies alongside continuing efforts to control public finances.

It pointed out that Egypt’s economic growth accelerated from 4.2 percent in fiscal year 2016/2017 to 5.3 percent in the previous fiscal year 2017/2018, and is expected to reach 5.9 percent during the year 2019/2020, supported by the recovery in net exports and investment, which offset the decline in consumption.

It also added that the unemployment rate fell to a single digit, the lowest level since 2011.

The review found that the current account deficit shrank to 2.4 percent of GDP from 5.6 percent in the previous year, thanks to tourism revenues and Egypt’s strong overseas remittances inflows bringing the total foreign exchange reserves to equal about six months of expected imports.

Source: https://egyptindependent.com/imf-praises-egypts-economic-reform-program-says-all-targets-achieved/

Blue3k:
These changes would be great but they wont do it. Buhari's economic policies have proven to be failures. Nigeria consistently had low growth and high rates of unemployment every quarter. The central bank policy was contradictory on its face. You want strong currency that encourages imports. Then you ban goods arbitrarily because you save forex to create jobs.

Lol people will foolishly argue the IMF is turning them into slaves like they forced them take money. Everyone knows the IMF is the lend of last resort. If the country fixed it's economy itself you wouldn't be running cap in hand.

You!!! you that fought for buhari severally? you and butterflyle0. you are now criticizing him? wow! unbelievable
your eyes don clear

AlhajaChinyere:
Useless, indisciplined race of idiots. Black Africans will suffer from generation to generation. Like stupid slaves they will spenf the borrowed money on consumer products to big up against each other.

190m idiots that produces nothing!

AGU NWANYI!

Imustsurvive:


You!!! you that fought for buhari severally? you and butterflyle0. you are now criticizing him? wow! unbelievable

I always said Buhari economic policies were bad on many threads. I can give him credit in other areas.

No country in the world operates a flexible rate, forget what you see in the papers.

The IMF wants to beep our already bleeped economy.

Blue3k:


I always said Buhari economic policies were bad on many threads. I can give him credit in other areas.

this is unbelievable!! I can't believe my eyes, you also supported APC in the last osun gubernatorial election, I know you more than you know yourself

evergreen9:


The uglyfat yam legged woman cleared all our debts but then you fools went on to hire a polytechnic attendee as minister of finance and the rest as they say is history

you really know nothing about the working of economics.

Imustsurvive:


this is unbelievable!! I can't believe my eyes, you also supported APC in the last osun gubernatorial election, I know you more than you know yourself

Your comments are getting foolish. I didnt care who won the last election in osun. If anything I gave my opinion who I thought would win. Bring the quote if I did.

Blue3k:


I always said Buhari economic policies were bad on many threads. I can give him credit in other areas.

Which areas will you commend Buhari?

emmnprince:
Chinese are not investing in Africa. Chinese are on a mission to enslave Africa in the future. They cannot try that with the Europeans or the Americans the Australians, but Africa. Africa need to wise up. If not, they are potential future slave.

I pray you live up to 390 years to experience the enslavement of Africa, and you also a slave.

I do not think Chinese are enslaving anybody. It's just like the thread months back on o cash, carbon(paylater), Fairmont etc. So many Nairalanders accused those companies of predatory lending. The same applies here, but on government level.
First and foremost you have the option to reject any loan if the terms don't favor you. Secondly what have you put in place to pay back? When you have civil servants negotiating such loans we are doomed because theirs is to collect and chop or put in unviable projects.
Eg Amechi said months back that Abuja kaduna railway line cannot even pay salaries of the workers how much more fund its operations. It that is true then China will own such rail network because we cannot repay! Or you take a loan to build railway from katsina to Chad. How will you pay back?
Or you take $500m loan to spend on Nta? Can Nta pay back?
Leave China, they do business with you, give you loans and if you default, they own your assets as obtainable anywhere in the world.
To take loan is sweet but to payback is complaints up and down.

Blue3k:


Your comments are getting foolish. I didnt care who won the last election in osun. If anything I gave my opinion who I thought would win. Bring the quote if I did.

wow! the little boy has jumped in the mud again, ain't gonna roll in the mud with you, I'm out of here boy!

Maduawuchukwu:


Which areas will you commend Buhari?

Building the rail lines and other infrastructure even if its at snail pace.

Blue3k:


Building the rail lines and other infrastructure even if its at snail pace.

Ok. He tried Infrastructure wise. Hope finishes them before leaving though.

Imustsurvive:


wow! the little boy has jumped in the mud again, ain't gonna roll in the mud with you, I'm out of here boy!

Ok liar please keep your foolish comments to yourself. You clowns like you running you mouth till it's time to bring quotes.

No wonder Trump said, Nigeria would do anything

I heard somewhere about using oil fields as collateral for loans

Kobicove:


China is not investing because they love Africans so much.

They are investing because they I directly want to take over Africa?

At least least they are investing. The west and the English that has been pilfering Africa since time immemorial to build their own country, what has they contributed for us?