IMF Envisages Turbulence in Financial Market

The International Monetary Fund, IMF, has advised Nigeria and other developing economies with large foreign currency borrowings to prepare for turbulence in financial markets.

IMF said countries such as Nigeria should consider extending their debt maturities as a means to contain foreign exchange fluctuations.

According to IMF, as the policy space diminishes in many economies, fiscal deficits are expected to shrink in most countries.