IMF boss to visit Nigeria, Cameroon

Managing Director of the International Monetary Fund (IMF), Ms. Christine Lagarde is expected in Nigeria today as part of her official visit to Nigeria and Cameroon between today and the 9^th of January, 2016.

During the visit, she is expected to engage with policy makers and other stakeholders in both countries and from the region and to underline the IMF’s strong relationship with its African member countries.

It is expected that her visit to Nigeria will provide an opportunity to strengthen the Fund’s partnership with the largest economy in sub-Saharan Africa. In Abuja, Ms. Lagarde will meet with President Muhammadu Buhari and other senior leaders, along with business leaders, prominent women, and representatives of civil society. She will also meet with legislators.

“I look forward to productive meetings with President Buhari and his colleagues as they address important economic challenges, most importantly the impact of low oil prices,” she said in a statement released by the international body.

In the statement, the IMF boss said Nigeria is working hard to improve its business environment, promote opportunities for growth in the private sector, and strengthen social cohesion, all areas where the government has an important role to play.

Also in Cameroon, Ms. Lagarde will meet President Paul Biya and his economic team, as well as private sector executives, women leaders, and other members of Cameroonian society. She will also meet with Finance Ministers from the six member countries of the Economic and Monetary Community of Central Africa (CEMAC), delivering a speech to the group on January 8.

“As the largest and most diversified economy in CEMAC, Cameroon is well placed to sustain, and reinforce, the momentum of integration,” Ms. Lagarde said.

Speaking further she said “The country and the entire CEMAC region are confronted with the twin shocks of the oil-price slump and a surge in disruptions related to security. Reinforcing regional integration and implementing ambitious reform agendas in CEMAC countries will be key to secure macroeconomic stability and restore strong and inclusive growth in the region.” The statement stated.