Nigeria: 2009 Article IV Consultation-Staff Report; Staff Supplement; Public Information Notice on the Executive Board Discussion; Statement by the IMF Staff Representative; and Statement by the Executive Director for Nigeria

International Monetary Fund

No 2009/315, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2009 Article IV Consultation highlights that reforms initiated earlier this decade in Nigeria have averted the boom–bust pattern that characterized previous oil price cycles and better prepared the economy to deal with the global financial crisis. Non-oil growth averaged 9 percent from 2004 to 2008. The pace of economic activity has nevertheless slowed in 2009. Executive Directors have welcomed the authorities’ commitment to a strong macroeconomic and financial policy framework that can support an early recovery and lay the basis for the successful implementation of Nigeria’s Vision 2020 development plan.

Keywords: ISCR; CR; consultation--informational annex; consultation; price; bank management; bank; article iv consultation--informational annex; intervened bank; bank assets; Oil prices; Commercial banks; Inflation; Global; African department (search for similar items in EconPapers)
Pages: 72
Date: 2009-11-12
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