The International Monetary Fund (IMF) on Tuesday projected Nigeria’s economy would contract by -3.4 percent in 2020 from 2.2 percent in 2019.
The Washington based Fund expects the economy to grow by 2.4 percent in 2021. IMF Chief Economist Gita Gopinath, disclosed this while presenting the world economic outlook at the ongoing virtual Spring meeting of the IMF and the World Bank group in Washington D.C.
Inflation rate is projected to rise by 13.4 percent in 2020 from 11.4 percent in 2019 and to moderate to 12.4 percent in 2021, higher than the Central Bank of Nigeria (CBN) single digit target of 6-9 percent.
Hope Moses-Ashike
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
