• About
  • Contact Us
Thursday, June 30, 2022
The Gist Day
No Result
View All Result
  • Login
  • News
    • All
    • National
    Buhari Atiku PDP

    2023 Election: Fayose Insists On Power Shift To South As He Dumps Atiku

    SEC Unclaimed Dividends

    Unclaimed Dividends By Nigerians Run Hit N180 Billion

    Action Alliance Calls For Disqualification Of Tinubu Over Alleged Forgery

    Double Tragedy As APC’s Vice Presidential Placeholder Declares Academic Certificates Missing

    Double Tragedy As APC’s Vice Presidential Placeholder Declares Academic Certificates Missing

    Ekweremadu PDP

    Ekweremadu: House Of Reps Vows To Apply Diplomatic Pressure

    Buhari Nigeria Train Attack

    FG Hands Over 57 Oil Fields To Matrix Energy, Ardova Oil, Suntrust Oil, Energia Ltd, Mainland Oil, Others

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
  • Business
  • National
  • Politics
  • Opinion
  • Coronavirus
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel
  • News
    • All
    • National
    Buhari Atiku PDP

    2023 Election: Fayose Insists On Power Shift To South As He Dumps Atiku

    SEC Unclaimed Dividends

    Unclaimed Dividends By Nigerians Run Hit N180 Billion

    Action Alliance Calls For Disqualification Of Tinubu Over Alleged Forgery

    Double Tragedy As APC’s Vice Presidential Placeholder Declares Academic Certificates Missing

    Double Tragedy As APC’s Vice Presidential Placeholder Declares Academic Certificates Missing

    Ekweremadu PDP

    Ekweremadu: House Of Reps Vows To Apply Diplomatic Pressure

    Buhari Nigeria Train Attack

    FG Hands Over 57 Oil Fields To Matrix Energy, Ardova Oil, Suntrust Oil, Energia Ltd, Mainland Oil, Others

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
  • Business
  • National
  • Politics
  • Opinion
  • Coronavirus
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel
No Result
View All Result
Morning News
No Result
View All Result
Home Business

IMF Projects Big Blow For Nigeria’s Economy

Emmanuel Onminyi by Emmanuel Onminyi
April 16, 2020
in Business, Coronavirus, Economy, National, News
0
IMF Projects Big Blow For Nigeria's Economy
0
SHARES
30
VIEWS
Share on FacebookShare on Twitter

Following the impact of the COVID-19 pandemic on several economies of the world, the International Monetary Fund, IMF, has projected the Nigerian economy as one of those that would be hard hit by the pandemic.

READ ALSO: Tinubu Advises FG On Payment Of Palliatives

READ ALSO

2023 Election: Fayose Insists On Power Shift To South As He Dumps Atiku

Unclaimed Dividends By Nigerians Run Hit N180 Billion

The institution, due to this forecast, has advised the Federal and State governments to put up more fiscal measures to fight the virus which has continued to spread across several states of the federation.

app

IMF’s Director, Africa Department, Mr Abebe Selassie, on Wednesday, disclosed this during a press briefing at the ongoing World Bank/IMF virtual Spring Meetings in Washington DC, United States where the ‘IMF Regional Economic Outlook for Sub Saharan Africa,’ was unveiled.

According to Selassie, although the medium-term focus for the Federal Government would be revenue mobilisation, the immediate focus at the moment should be how to deploy resources to combat the COVID-19 pandemic.

Eco Bank

app

In the near term, no amount of resources should be spared in putting behind the health crises that Nigeria faces from COVID-19 pandemic. So we see scope for more support of policies.

In the fiscal side, Nigeria has requested for more support under the Rapid Financing Instrument. This is a quick dispensing resource that government can use to strengthen health spending, to provide social support to people.

There is also scope for having exchange rate policy framework that will be supportive of the fiscal stance. So we look forward to those policies to be adopted to support Nigeria to put this crisis behind it.

This submission is coming in wake of the earlier submission by the body on Tuesday where it projected that Nigeria’s economy would contract by -3.4 per cent in 2020 from 2.2 per cent in 2019.

The Washington-based Fund expects the economy to grow by 2.4 per cent in 2021, as IMF chief economist, Gita Gopinath, disclosed this while presenting the world economic outlook at the virtual Spring meeting of the IMF and the World Bank Group in Washington D.C, USA.

Tags: COVID-19FGIMFNigeria

Related Posts

Buhari Atiku PDP
News

2023 Election: Fayose Insists On Power Shift To South As He Dumps Atiku

June 29, 2022
SEC Unclaimed Dividends
Business

Unclaimed Dividends By Nigerians Run Hit N180 Billion

June 29, 2022
News

Action Alliance Calls For Disqualification Of Tinubu Over Alleged Forgery

June 29, 2022
Seek Redress For Purchase Of Defective And Unsafe Goods— FCCPC
Economy

Seek Redress For Purchase Of Defective And Unsafe Goods— FCCPC

June 29, 2022
Double Tragedy As APC’s Vice Presidential Placeholder Declares Academic Certificates Missing
News

Double Tragedy As APC’s Vice Presidential Placeholder Declares Academic Certificates Missing

June 29, 2022
Ekweremadu PDP
News

Ekweremadu: House Of Reps Vows To Apply Diplomatic Pressure

June 29, 2022
Next Post
Gates Foundation Rescues WHO With More Funds

Gates Foundation Rescues WHO With More Funds

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

app

app
GTBank ADs GTBank ADs GTBank ADs

LATEST NEWS

Week 52 Pool Fixture for Sat 2, July 2022: Aussie 2022

Week 52 Pool Fixture for Sat 2, July 2022: Aussie 2022

June 28, 2022
Itsekiri Olu of Warri

Itsekiri Trust Fund Launches Social Security Healthcare Safety Net

June 28, 2022
25 Of The Latest Ankara Short Gown Styles For 2022

25 Of The Latest Ankara Short Gown Styles For 2022

March 10, 2022
Buhari Nigeria Train Attack

FG Hands Over 57 Oil Fields To Matrix Energy, Ardova Oil, Suntrust Oil, Energia Ltd, Mainland Oil, Others

June 29, 2022
MRI

What To Know About MRI Test And Its Recommendation

September 29, 2020

EDITOR'S PICK

VP Osinbajo Advocates Prayer For Nigeria

VP Osinbajo Advocates Prayer For Nigeria

July 25, 2021
Railways Rehabilitation: Bayelsa Community Leader Seeks Priority For PH-Kano Line

Railways Rehabilitation: Bayelsa Community Leader Seeks Priority For PH-Kano Line

January 26, 2021
2023: Who will rebuild Nigeria?

2023: Who will rebuild Nigeria?

August 15, 2021
Learn on How to Avoid Mistakes in Salary Negotiation

Learn How To Avoid Mistakes In Salary Negotiation

March 29, 2021

About

We bring you the stories that perfect for news, finance, politics etc. Check our landing page for details.

Follow us

Categories

  • A Call to Prayer
  • Appointments
  • Business
  • Celebrities
  • Coronavirus
  • Corporate Amazon
  • Economy
  • Education
  • Entertainment
  • Environment
  • Fashion
  • Financial Literacy
  • From the Kaaba
  • From the Pulpit
  • Gist & Jabs
  • Health
  • Jobmart
  • Lifestyle
  • Living
  • Metro Gist
  • National
  • News
  • Op-Ed
  • Opinion
  • Politics
  • Press Release
  • Religion
  • Sport
  • State News
  • Tech
  • Tourism
  • Travel
  • Uncategorized
  • World News

Recent Posts

  • 2023 Election: Fayose Insists On Power Shift To South As He Dumps Atiku
  • Unclaimed Dividends By Nigerians Run Hit N180 Billion
  • Regina Daniels gifted plot of land worth N35M
  • Taliban Bans Women From Participating In Gatherings Addressing National Issues.
  • Disclaimer
  • Home 2
  • Ikoyi building collapse: Corper who redeployed from Borno to Lagos, confirmed dead
  • Privacy Policy
  • Sample Page
  • TheGistDay
  • Whitemoney And New Lady Spotted Stepping Out Of Hotel Together (Video)

© 2022 TheGistDay.

No Result
View All Result
  • News
  • Business
  • National
  • Politics
  • Opinion
  • Coronavirus
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel

© 2022 TheGistDay.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Posting....