IMF Does Not Support Buhari’s Forex Restrictions – Lagarde

The MD of International Monetary Fund (IMF), Christine Lagarde, has told Nigerian lawmakers on Wednesday that the Fund does not support foreign exchange restrictions and that any such measures should be temporary.

According to reuters, Lagarde made the comments when addressing Nigerian lawmakers on Wednesday, adding that the Fund does not support foreign exchange restrictions and that any such measures should be temporary.

This statement comes as a reminder to President Buhari on the need to devalue the Naira, as some analysts have called.

President Buhari recently said in a media chat when answering questions about Devaluation of the Naira said he needs to be convinced about whether or not to devalue the Naira.

It remains to be seen whether or not the IMF boss is respected enough by Buhari to be convinced of the plan.