Declaring, “We shall be mindful of our comments on Nigeria from now on. We are sorry,” says the IMF Managing Director. …..
This apology followed comments made by Senator Jimoh Ibrahim, who criticised the IMF’s remarks on Nigeria’s economy.
Senator Jimoh Ibrahim, representing the Senate at the World Bank Parliament in Washington, D.C., challenged the IMF Managing Director regarding the negative comment on the Nigerian economy, questioning what President Tinubu had done wrong with the reform. In response to Senator Ibrahim’s comments, the IMF Managing Director expressed regret over the organisation’s unfavourable remarks. IMF Chairperson and Managing Director Kristalina Georgieva remarked, “We shall be mindful of our comments on Nigeria from now on. We are your IMF; we are sorry again.”
The event occurred when the IMF Managing Director spoke to parliamentarians at the World Bank premises. Senator Ibrahim contributed to the discussions by challenging the IMF’s recent remarks on Nigeria’s economy. He stated, “Madam IMF, in recent weeks, the IMF has criticised the Nigerian reform program with negative comments that lack supporting data. Do you believe this is fair? Suppose we are to look inward to build a strong economy, as you suggested in your paper. Is it appropriate for the IMF to make untruthful comments about the domestic economy? Is the IMF the entity managing the economy?”
Addressing Ibrahim’s concerns, IMF Managing Director Kristalina Georgieva stated, “We shall be mindful of our comments on Nigeria from now on. We are your IMF; we are sorry again.”
Senator Ibrahim remarked that misleading statements harm the economy and could create instability in domestic management. He thanked the IMF MD for her straightforward comments and accepted her apology on behalf of the nation. Senator Ibrahim highlighted the international community’s need to acknowledge President Tinubu’s initiatives, especially concerning tariff regulation, the ratio of GDP to revenue, cash flow management relative to GDP, and debt repayment. He stated that President Tinubu’s achievements should be considered a success for Africa, warranting worldwide support.
