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Nairaland Forum / Nairaland / General / Politics / No Hope For Nigeria: IMF (1761 Views)
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No Hope For Nigeria: IMF by cold(m): 10:58pm On Oct 13, 2016 |
The International Monetary Fund, IMF, has on Tuesday, October 4, predicted that Nigeria’s hunger and recession, will not end anytime soon. The prediction is coming at a time when President Muhammadu Buhari, had during his Independence speech, identified and marshaled out workable economic plans, on how his administration tends to recover Nigeria’s economy from recession. IMF, while giving its prediction in Washington DC, United States, US, projected that Nigeria’s economy will be out of recession in 2017, growing by 0.6 percent that year. Based on the IMF World Economic Outlook, WEO, the current economic recession will outlast 2016, with a Gross Domestic Product, GDP, contraction of 1.7 percent. “Sub-Saharan Africa’s largest economies continue to struggle with lower commodity revenues, weighing on growth in the region. “Nigeria’s economy is forecast to shrink 1.7 percent in 2016, and South Africa’s will barely expand. “By contrast, several of the region’s non resource exporters, including Côte d’Ivoire, Ethiopia, Kenya, and Senegal, are expected to continue to grow at a robust pace of more than 5 percent this year,” the IMF said. For other European countries, IMF also forecast a GDP contraction, and subsequent recession for Russia and Brazil, throughout 2016. “Growth in emerging Asia, and especially India, continues to be resilient. “India’s Gross domestic Product, is projected to expand 7.6 percent this year and next, the fastest pace among the world’s major economies,” the IMF added. The IMF Chief Economist and Economic Counselor, Maurice Obstfeld, who spoke on the outlook, said global economic growth would remain subdued in 2016, following a slowdown in the United States and Britain’s vote to leave the European Union. He also stated, that the fund forecasts a slight pickup in 2017 and beyond, driven mainly by emerging market strength. “Taken as a whole, the world economy has moved sideways,” he said. “We have slightly marked down 2016 growth prospects for advanced economies, while marking up those in the rest of the world,” Obstfeld said. It could be recalled, that IMF had in 2015, projected that the Nigeria’s economy will contract by 1.8 percent in 2016, but the October version of the WEO has seen that reviewed positively, to a contraction of only 1.7 percent. Nigeria since the emergence of President Buhari, has recorded a 0.36 and 2.06 percent contraction in the first and second quarter of 2016, plunging into its worst recession in 29 years. [url] http://www.post-nigeria.com/shock-as-imf-blows-hot-makes-dangerous-prediction-on-nigerias-economy[/url]/ |
Re: No Hope For Nigeria: IMF by Cjrane2: 11:35pm On Oct 13, 2016 |
That is what happens when you have a President that only thinks in terms of I'm Flank and they are not my people. The we against them policies of Buhari helped to worsen an already precarious situation. Now everyone is pretending like we didn't know how we got here. 7 Likes |
Re: No Hope For Nigeria: IMF by apriko(m): 12:23am On Oct 14, 2016 |
Thank you Afonjas with ur slave masters for these ur landmark achievements..... Next time you vote wisely recession don't know who is 5% or 97% 12 Likes 1 Share |
Re: No Hope For Nigeria: IMF by Nobody: 1:02am On Oct 14, 2016 |
apriko: Typical flattinovic! ![]() Your God Maazi Nnamidddiit is celebrating 1 year anniversary in Kuje today. Instead of you to think of how to rescue him, you're here typing nonsense 9 Likes |
Re: No Hope For Nigeria: IMF by Bari22: 1:05am On Oct 14, 2016 |
Hope for nigeria |
Re: No Hope For Nigeria: IMF by EternalTruths: 3:31am On Oct 14, 2016 |
BekiOloye: See painnnnnnnnnnnnnnnnnn 14 Likes |
Re: No Hope For Nigeria: IMF by Flyingngel(m): 5:01am On Oct 14, 2016 |
Apc i hail thee. 2 Likes |
Re: No Hope For Nigeria: IMF by SEOManiac: 5:47am On Oct 14, 2016 |
This doesn't stop my shine. |
Re: No Hope For Nigeria: IMF by Aremu01(m): 6:05am On Oct 14, 2016 |
God's on the throne 1 Like |
Re: No Hope For Nigeria: IMF by bennyann: 6:10am On Oct 14, 2016 |
There is hope for me. If I have hope, Nigeria has hope as long as she is still living. 1 Like |
Re: No Hope For Nigeria: IMF by CSTR2: 6:11am On Oct 14, 2016 |
Obvious to the blind . Exactly what I have been saying too. It would take a serious level of ingenious governance and national unity to get Nigeria back to what it initially was before this govt-which was nothing much anyway but still a growing economy. 1 Like |
Re: No Hope For Nigeria: IMF by blackpanda: 6:17am On Oct 14, 2016 |
Cjrane2: Try to read before commenting. Dont just look at headline then jump to start typing rubbish. Nigeria is not the only country in recession, almost all d oil exporting countries face d same. These kind of childish biased sentiments shld stop! 1 Like |
Re: No Hope For Nigeria: IMF by jimi4us: 6:19am On Oct 14, 2016 |
Afonjas don't have sense at all 5 Likes |
Re: No Hope For Nigeria: IMF by ayemerbarth: 6:38am On Oct 14, 2016 |
4get it. IMF not our God. |
Re: No Hope For Nigeria: IMF by kernel504(m): 6:39am On Oct 14, 2016 |
blackpanda: Stop displaying Ignorance, while there was global recession, why did it not happen in Nigeria.... Is called good management. What caused Buhari's military regime, to slip into recession? You voted an illiterate. 5 Likes |
Re: No Hope For Nigeria: IMF by Boleyndynasty2(f): 6:51am On Oct 14, 2016 |
Nigeria still has hope joor..But buhari sef, try and shake body small 1 Like |
Re: No Hope For Nigeria: IMF by Nobody: 6:59am On Oct 14, 2016 |
See how Tinubu and Atiku led us into recession ![]() Useless government. 1 Like |
Re: No Hope For Nigeria: IMF by wickyyolo: 8:10am On Oct 14, 2016 |
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Re: No Hope For Nigeria: IMF by borntosuccess(m): 8:13am On Oct 14, 2016 |
brace up urselfs, fasten ya sit belts d change is real |
Re: No Hope For Nigeria: IMF by 7lives: 8:31am On Oct 14, 2016 |
For those who already have manageable family there is hope, but if you're one of those who like plenty SHIDRENS ![]() ![]() ![]() Na now Nigerians go know WHY CHINA NO DEY BORN PASS ONE PIKIN ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() Imagine those who can't even take care of one child having a dozen, Nigeria is not the only country to suffer economic recession, other countries too have suffered it and survived, we shall survive. Though our leaders were USELESS, can some of us absolve ourselves? living like there is no tomorrow?, those who invested their hard earned money when money was available i congratulate you and those who spent theirs too on frivolities and worldliness accept my sympathy. The bottom line is that tough times don't last, tough people do. |
Re: No Hope For Nigeria: IMF by biggie73(m): 8:38am On Oct 14, 2016 |
Thank you for reminding us. I hope Kemi has been notified. |
Re: No Hope For Nigeria: IMF by BossKratos: 8:41am On Oct 14, 2016 |
Has naija ever had hope before? With all sorts of vagabonds in power all over the place? ![]() 2 Likes |
Re: No Hope For Nigeria: IMF by Bethelwealthy(m): 10:11am On Oct 14, 2016 |
Strangers?? Is it not the same strangers that brought him to power??
Go and sleep madam......... ![]() |
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