Achieving macroeconomic stability was the first objective of Nigeria’s economic team, and in the past 18 months they have achieved significant progress across a number of areas – and that has not escaped the attention of the international community.
The IMF is certainly impressed. In its statement in late March, following the 2005 Article IV Consultation Discussions it said that “overall, policy performance in 2004 was commendable.”
“The authorities’ macroeconomic policy framework in 2005, which builds on the unprecedented achievements of 2004, is consistent with continued macroeconomic stability,” it said.
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