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NIGERIA DAILY MORNING NOTE: The Fund agrees diplomatically to disagree

The Fund agrees diplomatically to disagree

The IMF’s executive board has concluded the Article IV consultations for 2016 with the FGN, and released the customary press release to announce as such.

The board’s discussions are generally based on a staff report, which is published once the member government gives its go-ahead and which tends to give a few revealing insights.

We can see from the press release that the Fund and the FGN have agreed to disagree on exchange-rate policy, and so continued the trend of the Soludo and Sanusi governorships. 

The FGN has signed several credit and monitoring agreements with the IMF but never drawn down funds. 

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