Solacecraig's Posts
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What on Earth will make him kill his wife even as a Pastor |
AmbSamuel101:Go to the Embassy to get an accurate information if u are really serious about it. |
The truth isn't far away |
Different source daily |
Get well soon |
This is the third internet fraudster burst in less than 30 mins on Fri page here on Nairaland. Why the increase in crime? |
isaacoco1:Can i see pictures of the rice pls? I'm interested. Where is your location |
Over the years it's just Nigeria footballer i have come across that slump and die more than other countries |
addexx:I don't think so |
addexx:Say goodbye to your account, it has been hacked |
artworks1:Nor be fight. Simple Yes or No |
kenfa:Bro I'm also a freelancer. I have small $48 PayPal fund, i don't know if i can get Bitcoin in exchange for it. I don't mind getting $35 worth of btc for it. |
artworks1:I asked for your rate here but u didn't reply. Infact my post was simple. Quote me with your rate here, not elsewhere. Anyway, i have small $48 PayPal from Fiverr, if u can exchange it with btc for me, we can deal. |
artworks1:Rate bro? |
What an interpretation of the child's ear |
$120 btc needed. Quote me with your rate. Thank you. |
Macsjebs:Who came up with the estimated price of this? |
jacobjamie:Thanks for the insight bro. NOTED |
The Federal Government’s removal of petrol subsidy and the increase in electricity tariff are in line with reforms being sought by the International Monetary Fund and the World Bank, economic experts have said. The IMF had on April 28 approved Nigeria’s request for emergency financial assistance of $3.4bn to support the country’s efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices. The Washington-based fund also published the country’s letter of intent in a detailed report released on April 29. In the letter, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, and the Central Bank of Nigeria Governor, Mr Godwin Emefiele, pledged that fuel subsidy would not return. The sharp drop in crude oil prices on the back of the spread of coronavirus saw the landing cost of petrol hit a record low in March, wiping off subsidy on the product. The Federal Government, on March 18, reduced the pump price of petrol to N125 per litre from N145. “The recent introduction and implementation of an automatic fuel price formula will ensure fuel subsidies, which we have eliminated, do not reemerge,” the Federal Government told the IMF in the letter dated April 21, 2020. In a report on August 17, Reuters quoted sources as saying that the World Bank was unlikely to approve a much-needed $1.5bn for Nigeria in August as planned due to concerns over desired reforms. It said the World Bank, which had said Nigeria could be heading towards its greatest fiscal crisis in 40 years, had aimed to bring the loan to its board for approval last month, but the sources said negotiations over what Nigeria would do to secure it were incomplete. According to the report, World Bank loans are often contingent upon reforms, and it has not outlined any demands, but said previously that it was ‘recommending’ a more unified, flexible exchange rate. Reuters said fuel subsidies and electricity tariffs were also being discussed, adding that a banking source said the loan could now not be approved until October. An economist and Chairman of the Foundation for Economic Research and Training, Prof. Akpan Ekpo, said, “Once a country does not run its economy well and it wants to borrow from the IMF, it will be given conditions. If the economy is well-run, the country may be given soft conditions. “But if the economy is not well-run, the country will be given tough conditions. At times, the reforms the World Bank or IMF wants the country to implement may not augur well with the common man. Some reforms are in our interest.” The Managing Director/Chief Executive Officer, Cowry Asset Management Limited, Mr Johnson Chukwu, told our correspondent that apart from the World Bank and the IMF, some Nigerians had been advocating the removal of fuel subsidy. He said, “With or without external pressures, there was an absolute need for Nigeria to remove subsidies on consumption and channel the resources to more critical sectors of the economy that will stimulate the economy. “What the IMF and the World Bank were emphasising was that Nigeria had some inefficiencies in resource allocation and that if the country wanted them to give it support, the inefficiencies should be eliminated. “They were urging the government to plug the wastages in the system.” Chukwu said to optimise the use of the loans, the government should provide critical infrastructure that would help to create jobs and help the economy to grow. An economist and Senior Lecturer, Lagos Business School, Dr Bongo Adi, said, “We know what the Bretton Woods institutions stand for. They are pro-market, liberal economic institutions. Before you access their loans, you have to be ready to meet certain conditions. “Surely, you can see that there is a linkage between the loans we are trying to get and the conditionalities they have always traditionally required of any country seeking loans.” Adi described the removal of fuel subsidy and the move towards cost-reflective electricity tariff as right policies but said they were being implemented at the wrong time.The Federal Government’s removal of petrol subsidy and the increase in electricity tariff are in line with reforms being sought by the International Monetary Fund and the World Bank, economic experts have said. The IMF had on April 28 approved Nigeria’s request for emergency financial assistance of $3.4bn to support the country’s efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices. The Washington-based fund also published the country’s letter of intent in a detailed report released on April 29. In the letter, the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, and the Central Bank of Nigeria Governor, Mr Godwin Emefiele, pledged that fuel subsidy would not return. The sharp drop in crude oil prices on the back of the spread of coronavirus saw the landing cost of petrol hit a record low in March, wiping off subsidy on the product. The Federal Government, on March 18, reduced the pump price of petrol to N125 per litre from N145. “The recent introduction and implementation of an automatic fuel price formula will ensure fuel subsidies, which we have eliminated, do not reemerge,” the Federal Government told the IMF in the letter dated April 21, 2020. In a report on August 17, Reuters quoted sources as saying that the World Bank was unlikely to approve a much-needed $1.5bn for Nigeria in August as planned due to concerns over desired reforms. It said the World Bank, which had said Nigeria could be heading towards its greatest fiscal crisis in 40 years, had aimed to bring the loan to its board for approval last month, but the sources said negotiations over what Nigeria would do to secure it were incomplete. According to the report, World Bank loans are often contingent upon reforms, and it has not outlined any demands, but said previously that it was ‘recommending’ a more unified, flexible exchange rate. Reuters said fuel subsidies and electricity tariffs were also being discussed, adding that a banking source said the loan could now not be approved until October. An economist and Chairman of the Foundation for Economic Research and Training, Prof. Akpan Ekpo, said, “Once a country does not run its economy well and it wants to borrow from the IMF, it will be given conditions. If the economy is well-run, the country may be given soft conditions. “But if the economy is not well-run, the country will be given tough conditions. At times, the reforms the World Bank or IMF wants the country to implement may not augur well with the common man. Some reforms are in our interest.” The Managing Director/Chief Executive Officer, Cowry Asset Management Limited, Mr Johnson Chukwu, told our correspondent that apart from the World Bank and the IMF, some Nigerians had been advocating the removal of fuel subsidy. He said, “With or without external pressures, there was an absolute need for Nigeria to remove subsidies on consumption and channel the resources to more critical sectors of the economy that will stimulate the economy. “What the IMF and the World Bank were emphasising was that Nigeria had some inefficiencies in resource allocation and that if the country wanted them to give it support, the inefficiencies should be eliminated. “They were urging the government to plug the wastages in the system.” Chukwu said to optimise the use of the loans, the government should provide critical infrastructure that would help to create jobs and help the economy to grow. An economist and Senior Lecturer, Lagos Business School, Dr Bongo Adi, said, “We know what the Bretton Woods institutions stand for. They are pro-market, liberal economic institutions. Before you access their loans, you have to be ready to meet certain conditions. “Surely, you can see that there is a linkage between the loans we are trying to get and the conditionalities they have always traditionally required of any country seeking loans.” Adi described the removal of fuel subsidy and the move towards cost-reflective electricity tariff as right policies but said they were being implemented at the wrong time. https://punchng.com/budget-support-imf-world-bank-conditions-behind-subsidy-withdrawal-electricity-tariff-hike/
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mainetrix:First of all, ask yourself what kind of music do u want to make with 20k in this year 2020 |
After five months. It is well |
President Donald Trump on Monday said the relationship between the United States and the World Trade Organisation had become much better following his rough stance against international organisations that were unfair to the US. “We are looking at WTO. They have become much better. They have been very nice to us lately, I would say that, amazingly. “We never used to win anything at the WTO, we were losing every case, but all of a sudden we won a lot of cases. “We just won seven billion dollars, and they are talking to us much differently than they used to because if they don’t shape up, we are going to shape out, that’s all,” Trump stated at a news conference outside the White House that coincided with the US Labour Day celebration. According to him, the WTO treats China as a developing nation, and the US “as a nation that is fully developed”. He cited the US-China trade agreement signed by the Obama administration under WTO conventions, describing it as one of the most disastrous trade deals in history. “We are not fully developed, as far I am concerned. China didn’t play by the rules. One of the reasons WTO is so bad is because China didn’t play by the rules. “We did, but their rules were easier because they are considered a developing nation. So, their standards are much lower, but even at that they didn’t play by the rules,” he noted. Trump said the US lost millions of jobs and billions of dollars to China under the deal, which his administration had renegotiated. No country has ever cheated America as China did for many years and decades, the president said, adding that the US was getting nothing other than losses. “But China was taking our money to build their military. You see they are building a very powerful military. We are lucky I am building ours otherwise we would be dwarfed right now by China,” he said. Reiterating his claim that China would own America should Joe Biden wins the November 3, 2020 presidential election, he said his administration was working towards decoupling the US and Chinese economies. “So, when you mention the word decouple, it’s an interesting word. Under my administration, we will make America enter the manufacturing superpower of the world that will end our reliance on China once and for all. “Whether it’s decoupling or putting in massive tariffs like I have been doing already, we will end our reliance on China because we can’t rely on China,” he added. https://punchng.com/wto-us-relationship-getting-better-says-trump/
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