Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), says the organisation is strongly in support of the economic reforms introduced in Nigeria under President Bola Tinubu.
Speaking on X on Thursday, Georgieva lauded economic reforms implemented under the current government.
Her statement followed a meeting with the president on the sidelines of the G20 summit in Brazil.
“Excellent meeting with 🇳🇬 President @officialABAT at the #G20 Summit,” the statement reads.
IMF COMMENDS FEDERAL GOVERNMENT REFORMS
The International Monetory Fund, IMF has commended the President Bola Tinubu’s administration for various reforms embarked upon to re-position Nigeria’s economy for better.
It was when the IMF Managing Director, Kristalina Georgieva visited president Tinubu on the sidelines of the just concluded G-20 leaders’ summit in Rio De Janeiro.
Assured IMF Managing Director, Kristalina Georgieva said:
“During our meeting, that our economic reforms are already yielding positive results and our administration remains committed to reducing the hardship that has resulted from the implementation of these reforms, while also protecting the most vulnerable in Nigeria.
Social safety nets, education, investments in infrastructure, and inclusive growth are key to our agenda. We are also engaging stakeholders and sensitising Nigerians to expand our economy’s tax base for inclusive developmental growth. We are doing this without necessarily increasing the tax burden on Nigerians, who have already given a lot.
“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 petrol subsidy removal, the liberalisation of the foreign exchange system, and the recent deregulation of the country’s petroleum downstream sector are a few policies of the incumbent government.
The policies are expected to reset Nigeria’s economy, regain investors’ confidence and attract investment in critical sectors.
On October 25, the IMF commended Tinubu’s administration during a press briefing in Washington DC, United States, for the economic reforms.
On June 12, during Nigeria’s 25th democracy anniversary, Tinubu said the country’s economy had been unstable and urgently required reforms that had been delayed for decades.
The president acknowledged the economic challenges facing the nation, saying his administration was working tirelessly to address them.
On October 17, during the launch of the Nigeria Development Update (NDU) report in Abuja, World Bank said the country is seeing positive results from the reforms — even though complaints of hardship remain pervasive across the nation.
The World Bank warned that continuity in the reforms is necessary, as reversing them would spell doom for Nigeria.
