NIGERIA STILL VULNERABLE TO OIL PRICE VOLATILITY, SAYS IMF
Despite assurance from the Federal Government that it has put measures in place to reduce the effect of fall in crude oil prices on the economy, the International Monetary Fund (IMF) has said that Nigeria remained vulnerable to oil price volatility and global financial developments.
The IMF which admitted that the country has already taken measures cushion the effect of the crude oil price decline, however believed that fiscal and external buffers are low and that there is less policy space for maneuvering, compared to the onset of the 2008-09 financial crisis.
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The IMF which admitted that the country has already taken measures cushion the effect of the crude oil price decline, however believed that fiscal and external buffers are low and that there is less policy space for maneuvering, compared to the onset of the 2008-09 financial crisis.
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