IMF Staff Country Reports

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

Publication Date:

November 12, 2009

Electronic Access:

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Summary:

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.

Series:

Country Report No. 2009/315

Subject:

Banking Commercial banks External debt Financial institutions Fiscal policy Inflation Oil prices Prices Public debt