IMF Cuts Global Growth to 2.8%, Trims U.S. 2025 Forecast to 1.8%
The International Monetary Fund, IMF has projected a shrinking global growth and declining world inflation, occasioned by heightened uncertainties and key policy adjustments. IMF’s Chief Economist, Pierre-Olivier Gourinchas who announced this yesterday in Washington DC, USA, while giving the fund’s global economic outlook, also downgraded the 2025 U.S. growth forecast to 1.8%, down from 2.7% […]
Nigeria’s Net Foreign Exchange Reserves Reach $23.11 Billion
Nigeria’s Net Foreign Exchange Reserves (NFER) reached $23.11 billion at the end of 2024, its highest level in over three years. This reflects improved external liquidity, reduced short-term obligations, and renewed investor confidence. Gross external reserves also increased to $40.19 billion, up from $33.22 billion in 2023. The Central Bank of Nigeria (CBN) attributes this […]
Nigeria’s inflation rate drops to 32.15% in August
Nigeria’s inflation rate dropped from 33.40% in July to 32.15% in August. This is the second month of consecutive inflation decline this year. In its Consumer Price Index report released yesterday, the National Bureau of Statistics said the headline inflation rate eased to 32.15% in August 2024, while food inflation stood at 37.52% in the […]
