GTB 737 banner Yudala banner

IMF presses for further naira devaluation

By News Express on 22/10/2015

Share on facebook Yahoo mail icon Gmail icon

Views: 1,596


The IMF is pressing Nigeria to further devalue its naira currency amid uncertainty over the political and economic outlook for Africa’s biggest oil producer and economy.

Analysts said there’s disappointment that President Muhammadu Buhari’s long-awaited Cabinet list includes no economic stars.

The naira has lost 25 percent of its value in the past year and the stock market has plummeted because of political uncertainty and halved prices for oil that provides most government revenue.

Nigeria's Central Bank has defended the naira by restricting access to foreign currency and banning a long list of imports.

The International Monetary Fund’s Africa director, Antoinette Sayeh, said those measures are “quite detrimental.” At the IMF meeting that ended in Peru this week she called for Nigeria to leave the naira to the marketplace. (Vox News)

*Photo shows IMF logo. 

Source News Express

Posted 22/10/2015 04:27:21 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
Group demands sack of suspended NHIS boos

Shake-up in the Air Force: Branch chiefs, AOCs,...

Talking About a Revolution, By Babatunde Jose ll...

Varsity don dismissed for altering students’ results

LG congress: Rivers APC unveils list of successful...

Court delivers judgement today on suit seeking Obiano’s...

Departing war chief gives Boko Haram charge

South West PDP leaders ask Jonathan for Speaker's...

Southern leaders task Borno Governor, elite over rescue...

Senate okays additional $500m Eurobond

U.S. sues JP Morgan Chase for alleged discrimination...

Scrapping of courses: No student will be sacked,...

 

Latest News Lawmakers’ salaries: Saraki dribbles rights activists Why I want to be Governor of Anambra State — Obaze •Lists priorities South East not marginalised, says El-Rufa’i in London lecture Cemetery rejects corpse of civil servant killed by lightening Gunmen invade FRSC office; kill Deputy Commander JAMB spits fire over illegal admissions NAFDAC impounds unregistered herbal products Guber Election: Anambra youths vow to resist rigging, violence Youth Alliance berates online trolls plotting downfall of IGP Ibrahim Idris Adebayo Adetunji and the Carnival at Ibadan Uber loses operation licence in London The UN and our endangered world

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (278,737 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (260,688 views) Shameless Genevieve Nnaji exposes breasts in public (211,644 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (177,800 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (176,778 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (158,479 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (136,770 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (126,799 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (120,371 views) Lagos plane crash: Journalist releases victims’ names (111,254 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (110,428 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (102,798 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (28) Business (2,695) Business Verdict (22) Columnists (744) Complaints & Requests (93) Enterprise & Opportunities (178) Entertainment (378) Features (489) Global Business Monitor (178) International (1,544) Interviews (130) Live Commentary (28) Love Matters (73) News (28,597) Opinion (809) Pidgin (8) Politics (3,938) Religion (627) Sports (1,322) Stock Watch (23) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN words on marble advert

 

 

Manchester United vs Everton 4-0 All Goals & Extended Highlights

 

APO Newsbreak logo

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!