Kristalina Georgieva, managing director of the International Monetary Fund (IMF), stated that the agency fully supports the economic changes implemented in Nigeria under President Bola Tinubu.
In an interview with X on Thursday, Georgieva praised the present government’s economic measures.
Her statement came after a meeting with the president on the margins of the G20 summit in Brazil.
The statement reads:
“Excellent meeting with 🇳🇬 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 existing government’s initiatives include the abolition of petrol subsidies, the liberalisation of the foreign currency system, and the recent deregulation of the country’s petroleum downstream sector.
The initiatives are intended to reset Nigeria’s economy, restore investor confidence, and attract investment in crucial areas.
During a press event in Washington, DC on October 25, the IMF praised Tinubu’s administration for its economic reforms.
On June 12, at Nigeria’s 25th anniversary of democracy, Tinubu stated that the country’s economy was unstable and that long-delayed reforms were urgently needed.
The president acknowledged the nation’s economic issues, saying his government was working relentlessly to address them.
On October 17, at the publication of the Nigeria Development Update (NDU) report in Abuja, the World Bank stated that the country is experiencing positive benefits from the changes, despite widespread complaints about hardship.
The World Bank emphasised that continuation of the reforms is essential, since undoing them would mean disaster for Nigeria.