IMF urges Nigeria to implement 'coherent and credible' economic policies

WEB_PHOTO_IMF_20513

File: International Monetary Fund managing director Christine Lagarde during an IMF summit. The IMF executive board has approved a $932 million loan programme for Jamaica.

File: International Monetary Fund managing director Christine Lagarde during an IMF summit. The IMF executive board has approved a $932 million loan programme for Jamaica.

WEB_PHOTO_IMF_20513

File: International Monetary Fund managing director Christine Lagarde during an IMF summit. The IMF executive board has approved a $932 million loan programme for Jamaica.

File: International Monetary Fund managing director Christine Lagarde during an IMF summit. The IMF executive board has approved a $932 million loan programme for Jamaica.

WASHINGTON - The International Monetary Fund on Thursday urged Nigeria to step up its economic reform efforts before the opportunity for reforms becomes more limited.

"Urgency is needed in implementing a coherent and credible package of monetary, fiscal and structural policies as the window for bold reforms is closing as the 2019 elections are approaching fast," IMF spokesman Gerry Rice said at a regular news briefing with reporters.

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Rice also confirmed that the Nigerian authorities had not approached the global lender about a programme but said the IMF "stands ready to help should the country make a request for financial assistance".