Nigeria: 2004 Semi-Annual Staff Report Under Intensified Surveillance

International Monetary Fund

No 2005/037, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews the 2004 Semiannual IMF Staff Report Under Intensified Surveillance for Nigeria. Overall economic performance in the first half of 2004 was commendable. The implementation of sound macroeconomic policies, underpinned by a conservative reference oil price and savings of the oil revenue windfall, has helped stabilize the economy. Fiscal prudence along with a tight monetary policy has contributed to a buildup of international reserves. Although the outlook for the remainder of 2004 is promising, the government faces the immediate challenge of persuading all states to continue to save the oil revenue windfall.

Keywords: ISCR; CR; government; broad money; central bank; program target; balance sheet; exchange rate; government operation; debt service; capital budget; program projection; cash basis; equity share; private sector; Oil; gas and mining taxes; Fiscal stance; Oil prices; Global (search for similar items in EconPapers)
Pages: 83
Date: 2005-02-08
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