Financial institutions battling climate-related shocks, says IMF

Financial institutions battling climate-related shocks, says IMF

According to a new report released by the International Monetary Fund, the effects of extreme weather conditions are harmful to the health of financial systems. The report titled “How Economies and Financial Systems Can Better Gauge Climate Risks” said to make well-informed decisions about future operations, banks, insurers, and others in the financial sector needed … Read more

Nigeria risks food crisis in 2023, says IMF

Nigeria risks food crisis in 2023, says IMF

The International Monetary Fund has warned Nigerians to prepare for higher food prices/risks in 2023 as a result of recent flooding and high fertilizer costs.Information Guide Nigeria According to the National Bureau of Statistics, food inflation reached 23.72 percent annually in October 2022, with particular food categories experiencing inflation rates between 50 and 100 percent. … Read more

Subsidy removal will restrain Nigeria’s rapid debt accretion – IMF

Nigeria has been told that the removal of subsidy from petrol price would restrain Nigeria’s rapid debt accretion, so that erstwhile trillions of Naira, subsidy allocations could be deployed, annually, to improve the quality of health, education and infrastructure, IMF has said. The IMF Managing Director, Christine Lagarde, recommended, at the latest IMF/World Bank, Annual … Read more