International Monetary Fund has ranked Nigeria as the second worst country in the world in the use of sovereign wealth funds. According to the Fiscal Monitor report released on Wednesday, Qatar was the only country worse than Nigeria on the index.
Tag: World Bank
Nigeria’s economy slipping —World Bank
The World Bank has said that the Nigerian economy has been slipping since 1995 and this continued till 2018. The bank, in its latest report on the regional economy titled, ‘Africa’s Pulse’, released the taxonomy of growth performance in sub-Saharan Africa, which focused on the macroeconomic and financial features that led to growth resilience on the continent.
World Bank President steps down
Jim Yong Kim has made the surprise announcement that he is stepping down after six years in the post. His resignation will take effect from 1 February. Mr Kim, 59, was not due to leave until 2022, after he was re-elected for a second five-year term in 2017. He will "join a firm and focus on increasing infrastructure investments in developing countries", the World Bank said.