IMF praises, pledges support for Nigeria’s economic reforms

Elizabeth AdeniyiNovember 21, 20241 Mins read345 Views

(FILES) In this file photo taken on October 15, 2019, International Monetary Funds (IMF) Managing Director Kristalina Georgieva pauses while speaking about gender equality during the IMF and World Bank Fall Meetings in Washington, DC. - Bulgaria's Kristalina Georgieva, whose tenure as head of the IMF remained uncertain on October 11, 2021 amid allegations of data tampering, is described as a respected economist with a strong background in international finance. (Photo by Olivier Douliery / AFP)

Kristalina Georgieva the Managing Director of the International Monetary Fund, has applauded Nigeria’s economic reforms under the leadership of President Bola Tinubu.

Georgieva made this known in a statement posted on her X (formerly Twitter) page on Thursday, which was released after a meeting with President Tinubu at the G20 Summit in Brazil, Georgieva praised Nigeria’s decisive measures aimed at fostering economic growth and creating jobs for its citizens.

Describing her engagement with President Tinubu as “excellent,” the IMF chief highlighted the progress made by Nigeria in its quest for economic stability.

She further assured that the IMF remains strongly committed to supporting Nigeria on its path to recovery and sustained development.

Her X post read, “Excellent meeting with Nigerian President @officialABAT at the #G20 Summit. Commended Nigeria’s decisive actions to reform the economy, accelerate growth, and generate jobs for its vibrant population. The IMF strongly supports Nigeria on this journey.”

The IMF boss’s remarks spotlight the country’s ongoing reforms, which include subsidy removal, exchange rate harmonisation, and policies aimed at restoring investor confidence and strengthening fiscal discipline.

These reforms, while necessary, have sparked debates within the country due to their impact on living standards, as Nigerians battle high inflation and poverty.