## 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

**Canonical URL:** [Nigeria: 2016 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for Nigeria](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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## Bibliographic details
- Published: April 8, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484320037.002

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### 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

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## Content in this bundle

- **Cr16101**
  - [Cr16101 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16101.pdf){rel="external" type="application/pdf"}

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_Source: 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_