Posted 2/25/2024, 1:12:51 PM
IMF Denies Forecasting Naira's Value, But Warns Nigeria of Economic Risks if Policies Don't Change
- IMF denies predicting naira to dollar exchange rate for 2024, says it does not make such forecasts
- Report originated from IMF's 2023 economic outlook, which presented a hypothetical downside scenario
- Cautionary outlook projects economic downturn and 44% inflation in Nigeria if policies aren't adjusted
- IMF report outlines factors like monetary policy, climate events that could disrupt Nigeria's economy
- IMF says total debt cancellation difficult for African countries as much debt is domestic
