Business Nigeria Needs Flexibility in Monetary Policy - IMF Boss

P

ProfRem

Guest
Nigeria needs more flexibility in setting monetary policy so it can use its foreign currency reserves to support the poor population if low oil prices persist, said International Monetary Fund Managing Director Christine Lagarde, Bloomberg reports.

“With a very clear ambition to support the poor people of Nigeria, there could be added flexibility in the monetary policy, particularly if, as we think, the price of oil is likely to be lower for longer,” Lagarde told reporters.

imfLARgade.jpg

Lagarde’s comments come a week after Buhari said he doesn’t personally support weakening the naira and would need to be convinced that devaluing the local currency of Africa’s largest oil producer is the best course to take for the economy.


Source
 
Back
Top