Nigeria: 2010: Article IV Consultation-Staff Report; Debt Sustainability Analysis; Informational Annex; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Nigeria
IMF Staff Country Reports, February 28, 2011
Source details
- Canonical URL
- Nigeria: 2010: Article IV Consultation-Staff Report; Debt Sustainability Analysis; Informational Annex; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Nigeria
Other formats
Bibliographic details
- Published: February 28, 2011
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455219988.002
Executive summary and growth outlook
- Nigeria’s economy is projected to grow by 7 percent in 2011.
- Near-term risks to growth mostly relate to domestic factors.
- Nigeria’s strong external position and low debt helped mitigate the impact of the global financial crisis.
Macrofinancial assessment
- Conflicting objectives of monetary policy and policy framework should focus more on price stability.
- Establishment of an asset management corporation to clean up the bank balance sheet is encouraged.
Key findings
- Growth projection: 7 percent in 2011.
- Primary risks: domestic factors in the near term.
- Resilience factors: strong external position; low debt.
Policy recommendations
- Reorient monetary policy framework to emphasize price stability.
- Create an asset management corporation to address impaired bank balance sheets.
Thematic subjects and keywords
- Subject: Expenditure, External debt, Oil prices, Prices, Public debt, Public financial management (PFM)
- Keywords: analytical balance balance sheet, CBN balance sheet, CR, debt, debt service indicator, development finance initiative, Global, government, industries transparency initiative, inflation pressure, inflation risk hinge, ISCR, Oil prices, price, real GDP, world oil prices well
Source: IMF Staff Country Report — "Nigeria: 2010: Article IV Consultation-Staff Report; Debt Sustainability Analysis; Informational Annex; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Nigeria" (February 28, 2011).