Cover IMF Staff Country Reports
Nigeria: Staff Report for the 2014 Article IV Consultation
Author: International Monetary Fund. African Dept.
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2015: Issue 084
Language:
English
Publication Date:
30 Mar 2015
DOI:
https://doi.org/10.5089/9781484306307.002
ISBN:
9781484306307
ISSN:
1934-7685
Pages:
92
Keywords:
ISCR; CR; exchange rate; band vis-à-vis; U.S. dollar; debt; naira-U.S. dollar exchange rate; bureau de change; market reaction; oil price shock; Oil prices; Oil; gas and mining taxes; Global; Sub-Saharan Africa
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This 2014 Article IV Consultation highlights that inflation in Nigeria has remained in single digits for two years, and the banking sector, which has a strong capital base, is expanding credit. The trade surplus has been declining since the second quarter of 2013 on lower oil exports and continued strong growth of imports, and gross international reserves have been falling. The general government fiscal deficit and public debt have been kept low. The Executive Directors have commended authorities for progress in promoting Nigeria’s economic diversification and for their macroeconomic response to collapsing export prices.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund