IMF urges Nigeria to lift FX restrictions, multiple exchange rates

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IMF urges Nigeria to lift FX restrictions, multiple exchange rates
Thu Mar 30, 2017 3:08pm GMT

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ABUJA, March 30 (Reuters) – The International Monetary Fund
(IMF) on Thursday said Nigeria should lift its remaining foreign
exchange restrictions and scrap its system of multiple exchange
rates to revive the country's recession-hit economy.

The fund also forecast Africa's largest economy would grow
0.8 percent this year. The outlook came in the Washington-based
fund's Article IV consultation, which is a regular assessment of
a country's economy.

In 2016, Nigeria fell into its first annual recession in 25
years.
(Reporting by Chijioke Ohuocha and Alexis Akwagyiram; editing
by Richard Lough)

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