Nigeria : Staff Report for the 2002 Article IV Consultation

Author/Editor:

International Monetary Fund

Publication Date:

January 3, 2003

Electronic Access:

Free Full text (PDF file size is 2657 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Nigeria’s 2002 Article IV Consultation highlights that major macroeconomic imbalances had emerged as a result of sharp increases in government spending and expressed concern at the risks of a further acceleration of inflation and continuing instability in the exchange market. The overall fiscal balance deteriorated sharply in 2001, the external accounts worsened, and inflation accelerated. The overall stance of fiscal policy remains highly expansionary in 2002, notwithstanding efforts by the authorities to contain capital spending. Lax financial policies have led to a sharp fall in international reserves.

Series:

Country Report No. 03/3

Subject:

English

Publication Date:

January 3, 2003

ISBN/ISSN:

9781451828900/1934-7685

Stock No:

1NGAEA0012003

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

72

Please address any questions about this title to publications@imf.org