Haphazard Co-ordination

IMF may have a hand in removal of Subsidy in Nigeria

ordinaryafrica:

The International Monetary Fund (IMF) has reportedly been pressuring the government to remove the subsidy, which costs the treasury an estimated $8 billion a year. If this is indeed the case, the IMF could be repeating the horrendous mistake of the last 1990s, when pressure on countries like Indonesia to remove subsidies and devalue their currencies triggered the East Asian financial crisis. ~ Huffington Post.

Don’t be confused, the IMF played a huge role in twisting the arm of the spineless government into both devaluing the currency last year and removing the subsidy from petrol.