{"id":18891,"date":"2019-12-14T20:38:16","date_gmt":"2019-12-14T20:38:16","guid":{"rendered":"https:\/\/www.africa-press.com\/nigeria\/?p=18891"},"modified":"2019-12-14T20:38:16","modified_gmt":"2019-12-14T20:38:16","slug":"countries-without-crude-oil-better-off-than-nigeria-imf","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/all-news\/countries-without-crude-oil-better-off-than-nigeria-imf","title":{"rendered":"Countries without crude oil better off than Nigeria \u2014IMF"},"content":{"rendered":"<p>The International Monetary Fund (IMF) on Thursday announced that oil-dependent economies like Nigeria\u2019s continued to perform worse than countries dependent on other exports. According to the organisation, the trend has been on since the crash in oil prices in 2014.<\/p>\n<p>The\u00a0<a href=\"https:\/\/www.ripplesnigeria.com\/tag\/IMF\/\">IMF disclosed<\/a>\u00a0this in its policy paper on macroeconomic developments and prospects in Low-Income Developing Countries (LIDCs), a paper it said its executive directors deliberated on on 13 November, 2019.<\/p>\n<p>The LIDCs comprise 59 IMF member countries specifically defined by income per capita level below a certain threshold (fixed at $2,700 in 2016).<\/p>\n<p>\u201cThe LIDCs are expected to record average annual growth of some five per cent in 2018-2019, a reasonably robust performance against the backdrop of loss of momentum in the global economy,\u201d the organisation stated.<\/p>\n<p>\u201cLooking ahead, growth is expected to pick up marginally in 2020 and beyond, although risks to the global economy threaten this outlook.<\/p>\n<p>\u201cDebt levels in several countries (notably fuel exporters) fell sharply on fiscal tightening and recoveries of GDP and\/or real exchange rates (which boosted dollar-equivalent denominators). An important exception is Nigeria, where debt to\u00a0<a href=\"https:\/\/www.ripplesnigeria.com\/cbn-expects-2-38-gdp-growth-by-q4\/\">GDP ratio<\/a>\u00a0continued to increase.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The International Monetary Fund (IMF) on Thursday announced that oil-dependent economies like Nigeria\u2019s continued to perform worse than countries dependent on other exports. According to the organisation, the trend has been on since the crash in oil prices in 2014. The\u00a0IMF disclosed\u00a0this in its policy paper on macroeconomic developments and prospects in Low-Income Developing Countries [&hellip;]<\/p>\n","protected":false},"author":62,"featured_media":17914,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1230,566],"class_list":["post-18891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-gdp-ratio","tag-imf"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Countries without crude oil better off than Nigeria \u2014IMF - Nigeria<\/title>\n<meta name=\"description\" content=\"The International Monetary Fund (IMF) on Thursday announced that oil-dependent economies like Nigeria\u2019s continued to perform worse than countries\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/countries-without-crude-oil-better-off-than-nigeria-imf\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Countries without crude oil better off than Nigeria \u2014IMF\" \/>\n<meta property=\"og:description\" content=\"The International Monetary Fund (IMF) on Thursday announced that oil-dependent economies like Nigeria\u2019s continued to perform worse than countries\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/countries-without-crude-oil-better-off-than-nigeria-imf\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-14T20:38:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/2019\/11\/oil-field.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"768\" \/>\n\t<meta property=\"og:image:height\" content=\"437\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"alico\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"alico\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/countries-without-crude-oil-better-off-than-nigeria-imf#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/countries-without-crude-oil-better-off-than-nigeria-imf\"},\"author\":{\"name\":\"alico\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7\"},\"headline\":\"Countries without crude oil better off than Nigeria \u2014IMF\",\"datePublished\":\"2019-12-14T20:38:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/countries-without-crude-oil-better-off-than-nigeria-imf\"},\"wordCount\":192,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/countries-without-crude-oil-better-off-than-nigeria-imf#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/2019\/11\/oil-field.jpg\",\"keywords\":[\"GDP ratio\",\"IMF\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/all-news\/countries-without-crude-oil-better-off-than-nigeria-imf#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/countries-without-crude-oil-better-off-than-nigeria-imf\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/countries-without-crude-oil-better-off-than-nigeria-imf\",\"name\":\"Countries without crude oil better off than Nigeria \u2014IMF - 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