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The Managing Director of the International Monetary Fund, Kristalina Georgieva, has commended Nigeria’s economic reforms under the leadership of President Bola Tinubu.
In a statement on her X (formerly Twitter) page on Thursday, released after a meeting with President Tinubu at the G20 Summit in Brazil, Georgieva praised Nigeria’s decisive measures aimed at fostering economic growth and creating jobs for its citizens.
Read Also: IMF Calls For Fresh Perspective On Reforms In Nigeria
Describing her engagement with President Tinubu as “excellent,” the IMF chief highlighted the progress made by Nigeria in its quest for economic stability.
She further assured that the IMF remains strongly committed to supporting Nigeria on its path to recovery and sustained development.
Her X post read, “Excellent meeting with Nigerian President @officialABAT at the #G20 Summit. Commended Nigeria’s decisive actions to reform the economy, accelerate growth, and generate jobs for its vibrant population. The IMF strongly supports Nigeria on this journey.”
The IMF boss’s remarks spotlight the country’s ongoing reforms, which include subsidy removal, exchange rate harmonisation, and policies aimed at restoring investor confidence and strengthening fiscal discipline.
These reforms, while necessary, have sparked debates within the country due to their impact on living standards, as Nigerians battle high inflation and poverty.
In other news, as citizens in Nigeria and various Sub-Saharan African nations express increasing frustration with the economic reforms sweeping through their countries, the International Monetary Fund (IMF) has stepped in with a carefully crafted set of recommendations.
These proposals are aimed at facilitating the acceptance of these reforms by the public, with a focus on ensuring that the changes do not solely serve economic interests but also cater to the social and welfare needs of the populace.
The International Monetary Fund (IMF) has warned in its latest Regional Economic Outlook for Sub-Saharan Africa report that nations such as Nigeria, Ghana, Ethiopia, and Kenya, currently undergoing intense economic reforms, may be facing what it has termed “adjustment fatigue.”
In the case of Nigeria, the introduction of macroeconomic reforms, particularly the deregulation of the petrol and foreign exchange sectors, has led to widespread civil unrest and labor stoppages.
