IMF Faults Report

The International Monetary Fund, in a brief statement yesterday, stated that, “recent articles in the Nigerian press that quote a specific naira/US dollar exchange rate projection by the IMF are incorrect. The IMF does not publish exchange rate forecasts.

“The articles seem to draw on an IMF report prepared in late 2023 that was recently published. The report includes a hypothetical downside scenario exercise that stress tests key macroeconomic variables, mainly in response to hypothetical adverse exogenous shocks.”