IMF reduces Nigeria’s 2020 economic growth projection by 0.5 per cent

IMF reduces Nigeria’s 2020 economic growth projection by 0.5 per cent

Reading Time: < 1 minute The International Monetary Fund (IMF) has reviewed downward its 2020 economic growth rate for Nigeria to two per cent from the 2.5 per cent it had predicted earlier. According to the IMF, the cut reflects the impact of lower international oil prices while inflation in the country is expected to pick up. In addition, it predicted that “deteriorating terms of trade and capital outflows will weaken the country’s external position.” The position of IMF team…

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