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| IMF urges Nigeria to increase tax revenue, tackle evaders |
| 2025-04-25 |
| [VANGUARDNGR] The International Monetary Fund (IMF) has urged Nigeria and other African countries to raise tax revenue by expanding the tax base and curtailing tax evasion. Briefing the press at the ongoing Spring Meetings of the Fund and the World Bank in Washington, yesterday, the Managing Director of the IMF, Ms. Kristalina Georgieva, said that those steps were crucial for Nigeria and the entire region to navigate the current global economic challenges. Her words, ''We have seen over the last years, the African continent having some of the fastest growing economies, but we also have seen low income countries primarily and among the fragile conflict affected countries falling further behind, this is a shock for the continent. ''The direct impact of tariffs on most of Africa, not on all of Africa, but on most of Africa, is relatively small, but the indirect impact is quite significant. Slowing global growth means that all other things equal, they would see a downgrade. And actually we have downgraded the growth prospects for the continent. ''For oil producers like Nigeria, falling oil prices create additional pressure on their budgets. On the other hand, for the oil importers, this is a breath of fresh air. In other words, different countries face different challenges. If I were to come with some basic recommendations that apply to Africa, I would say, and actually, they apply to Nigeria, they apply to Egypt, they apply to Ghana, they apply to Cote d'Ivoire. Related: International Monetary Fund: 2025-04-24 Treasury Secretary Scott Bessent blasts the IMF''s woke ''mission creep'' International Monetary Fund: 2025-04-23 Pakistan eyes tariff relief, looks to increase imports from US: Aurangzeb International Monetary Fund: 2025-04-21 Egypt's revenue from the Suez Canal plunged sharply in 2024 Related: World Bank : 2025-04-24 Treasury Secretary Scott Bessent blasts the IMF''s woke ''mission creep'' World Bank : 2025-04-13 Syrian officials plan to attend IMF, World Bank meetings in Washington DC, sources say World Bank : 2025-04-05 Lebanon’s new central bank chief vows to combat terror financing |
| Posted by:Fred |