The Minister of Finance, Kemi Adeosun, said on Tuesday that the meeting between the Federal Government’s economic team and the International Monetary Fund (IMF) was very fruitful.
She gave the impression after both groups discussed the outlines of the 2016 appropriation bill at the office of the Vice President, Prof. Yemi Osinbajo.
Adeosun told State House correspondents that IMF wanted to understand what the economic team was doing and to share ideas with them on how best to run the country’s economy.
“We just completed first two sessions of Madam (Christine) Lagarde’s visit to Nigeria.
“The International Monetary Fund (IMF) are here; and she is really here to speak to us to understand what the economic team is doing and to share ideas and knowledge. And the meeting was very productive.
“We were able to outline our plans as outlined in our budget. We were able to go into some details around how we intend to untie the budget objectives and share ideas on what we can do within the current global economy. So it was a useful meeting; it was a positive meeting.
“I think Madam made it very clear that IMF are not here as part of any form of programme; they are not here to lend us money; they are here to give us technical support, advice and really get to know what the new economic team is doing. And I think it was a very positive meeting.”
The Managing Director of IMF, Christine Lagarde and the IMF team met earlier with President Muhammadu Buhari and hailed the changes that had taken place in the country.
Lagarde, who emerged IMF boss in May 2011, told a news conference that she had seen many changes in Nigeria since the Buhari administration came into office.
“If you look back four years ago, it seems that a massive democratic change occurred in this country peacefully.
“Nigeria has become the largest economy in Africa; certainly the most populated and a very attractive market,” she said.
Largarde added that IMF would support capacity building and strengthen the revenue generating agencies in the country to improve the country’s competitiveness, focusing on the very short term fiscal situation and long term growth.
She said the meeting focused on how efficiency, transparency, accountability and enlarging of revenue could contribute to the sound implementation of the 2016 budget.
She also acknowledged Buhari’s determination to fight corruption, bring about transparency and accountability at all levels of the economy.
According to the IMF chief, Nigerian with a vibrant and large economy, still has to deal with poor people with inequalities and its economy will impact on not only the citizens but also the neighbouring nations.
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