{
  "title": "Nigeria: 2016 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for Nigeria",
  "publication": "IMF Staff Country Reports, April 8, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/nigeria-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43851",
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  "summary": "This paper discusses outlook and risk for Nigeria. Its 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.",
  "publishDate": "2016-04-08",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Outlook and Risks",
      "content": "- The economy has been hit hard by global developments that have aggravated longstanding development weaknesses.\n- Macrofinancial outcomes are closely linked with the price of oil.\n- Policy uncertainty has amplified the impact of global developments.\n- The large permanent terms-of-trade shock requires a significant macroeconomic adjustment."
    },
    {
      "heading": "Recommended integrated policy package",
      "content": "- Fundamental change in the nature of government.\n- Reducing external imbalances (including real exchange rate realignment).\n- Further safeguarding the resilience and improving the efficiency of the banking sector.\n- Implementing structural reforms for inclusive growth.\n- Urgent initiation of the integrated package of policies."
    },
    {
      "heading": "Subject coverage and keywords",
      "content": "- Subject: Exchange restrictions, Expenditure, Foreign exchange, Oil prices, Prices, Public financial management (PFM)\n- 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\n\n---\n\n Content in this bundle\n\n- Cr16101\n  - Cr16101 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2016/12/31/nigeria-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-43851"
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    "Published: April 8, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484320037.002",
    "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.",
    "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: 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",
    "**Cr16101**"
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