The visit of Ms Christine Lagarde, the Managing Director of the International Monetary Fund (IMF) to Nigeria is being met with a mixture of distrust and trepidation by the Nigerian public.
Ms Lagarde’s visit which is mean to span a total of 4 days has already been filled with activities ranging from meetings with the management of the Central Bank of Nigeria (CBN), the Finance minister, Kemi Adeosun, to meetings with the President and Vice President of Nigeria.
Reports also indicate that a team of economic experts are expected to come to Nigeria next week to assess the strength of the 2016 appropriation bill which has already been submitted to the National assembly for legislative action. Other reports state that IMF recommendations on the 2016 budget include the development of non-oil sectors for revenue regeneration, and a strengthening of the Nigerian currency among other things.
There have been assurances from the IMF Managing Director that no loans are being negotiated in deference to the administration’s determination to revive the economy by becoming self-reliant.
Source: Vanguard
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