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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Profile/New Launches, Performance

IMF sees Nigeria 2011 growth of 7pct, welcomes SWF

Posted on 21 February 2011

From Reuters: Nigeria’s economy is expected to grow around 7 percent this year, down from 8.5 percent in 2010, with growth moderating gradually in subsequent years, the International Monetary Fund (IMF) said on Thursday. The IMF welcomed the planned establishment of a sovereign wealth fund, meant to better manage Nigeria’s oil savings, which it said would help shield the budget from oil revenue volatility.
It viewed the central bank’s increase in the benchmark interest rate to 6.5 percent last month as “appropriate” and said further monetary tightening may be required if inflationary pressures continue……………………………………….Full Article: Source


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