In its report tagged, How Fiscal Restraint Can Help Fight Inflation, the IMF wants the Central Bank of Nigeria to reduce its monetary policy rate in order to cushion the effect of inflationary pressure on households.
The IMF also wants the Federal Government to tighten up its fiscal policy through investments in critical sectors capable of putting the economy on a better path in the long-term.
The IMF noted that fiscal stimulus in the current high inflation environment will force central banks to slam on the brakes harder to curb inflation, despite elevated public and private sector debt.
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