Lagarde IMF Boss to scrutinise FG’s 2016 budget

It is possible that International Monetary Fund, IMF, may scrutinize and amend the  2016 Appropriation Bill despite being already presented to the National Assembly for legislative action.

Says she is not in Nigeria to negotiate loan
Notes with right policies, Nigeria has no reason to borrow
Backs Buhari’s fight against corruption
Ministers’ll give account of funds —Buhari


Ms Christine Lagarde,told newsmen in Abuja, that the  multilateral financial institution would be discussing the budget next week with Nigerian officials.

She says "A team of economists would visit Nigeria Next week to review and audit (the bill), she noted that she will continue to have discussions with Nigeria’s Finance Minister and CBN Governor on issues of fiscal discipline, financing, monetary policies and the degree of flexibility, because despite “Nigeria being a vibrant and large economy still has to deal with a lot of poor people with a lot of inequality. Those two components should certainly always be the drivers of reforms, whether it is looking at subsidies, how they are structured and how they can be faced out.”

Don’t strangulate poor Nigerians
IMF boss warned the Federal Government not to strangulate poor Nigerians with rigid economic policies. the dwindling oil prices  have apparently affected the national income of most countries.

A lot has changed in Nigeria Recalling the tremendous progress Nigeria has made in its democratic process, Lagarde said a lot had changed in the country since she last visited four years ago.

She said: “I was in Nigeria four years ago and in four years, many things have changed. That has been the topic of our discussions with President Buhari and his team. Looking back four years ago, massive democratic change has occurred in this country peacefully. Nigeria has become the largest economy in Africa, certainly the most populated and with a very attractive market.

Not here to negotiate loan

“First, let me make it clear that I’m not here nor is my team in this country to negotiate a loan with conditionalities. We are not into programme negotiations and frankly at this point in time, given the determination, resilience displayed by the President and his team, I don’t see why an IMF programme will be needed. So, of course, discipline is going to be needed, of course, implementation is going to be key for the objectives and the ambitions to serve the country well, in order for it to be actually sustainable.

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