Nigeria: 2016 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for Nigeria
IMF Staff Country Reports, April 8, 2016
Source details
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- Nigeria: 2016 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for Nigeria
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Bibliographic details
- Published: April 8, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484320037.002
Outlook and Risks
- The economy has been hit hard by global developments that have aggravated longstanding development weaknesses.
- Macrofinancial outcomes are closely linked with the price of oil.
- Policy uncertainty has amplified the impact of global developments.
- The large permanent terms-of-trade shock requires a significant macroeconomic adjustment.
Recommended integrated policy package
- Fundamental change in the nature of government.
- Reducing external imbalances (including real exchange rate realignment).
- Further safeguarding the resilience and improving the efficiency of the banking sector.
- Implementing structural reforms for inclusive growth.
- Urgent initiation of the integrated package of policies.
Subject coverage and keywords
- Subject: Exchange restrictions, Expenditure, Foreign exchange, Oil prices, Prices, Public financial management (PFM)
- Keywords: authority, CR, economy, Exchange restrictions, GDP, Global, government development strategy, government's strategy, ISCR, Nigeria development finance Project, Nigerian authorities, oil price shock, Oil prices, price, West Africa
Content in this bundle
- Cr16101