By Joke Kujenya
DISPELLING EARLIER reports suggesting criticism from International Monetary Fund (IMF), economic reforms introduced by President Bola Tinubu have received strong support from the global body.
Kristalina Georgieva, IMF Managing Director, praised the administration’s decisive policies during a meeting with President Tinubu at the G20 summit in Brazil.
Georgieva, posting on X, commended the Nigerian government for its efforts to accelerate growth, create jobs, and stabilize the economy.
She affirmed the IMF’s commitment to supporting these reforms, which include the removal of petrol subsidies, foreign exchange liberalization, and deregulation of the petroleum downstream sector.
The IMF reiterated its endorsement during an October press briefing in Washington D.C., citing the reforms as critical steps towards economic recovery.
However, the World Bank, in its Nigeria Development Update (NDU) report released in Abuja, warned that policy reversals could undermine progress.
Meanwhile, President Tinubu has acknowledged the widespread economic hardship but insists the reforms are essential for long-term stability, investor confidence, and economic growth.
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