Nigeria: Staff Report for the 2014 Article IV Consultation

International Monetary Fund

No 2015/084, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2014 Article IV Consultation highlights that inflation in Nigeria has remained in single digits for two years, and the banking sector, which has a strong capital base, is expanding credit. The trade surplus has been declining since the second quarter of 2013 on lower oil exports and continued strong growth of imports, and gross international reserves have been falling. The general government fiscal deficit and public debt have been kept low. The Executive Directors have commended authorities for progress in promoting Nigeria’s economic diversification and for their macroeconomic response to collapsing export prices.

Keywords: ISCR; CR; exchange rate; band vis-à-vis; U.S. dollar; debt; naira-U.S. dollar exchange rate; bureau de change; market reaction; oil price shock; Oil prices; Oil; gas and mining taxes; Global; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 92
Date: 2015-03-30
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