Nigeria, however, is not the only country worried about the impact of stronger coronavirus variants.
The emergence of highly infectious virus variants “could derail the recovery and wipe out $4.5trn, cumulatively, from global GDP, by 2025,” the International Monetary Fund said in a 27 July press briefing.
“Financial conditions could also tighten abruptly, if there is a sudden reassessment of the monetary policy outlook, especially in the United States. A worsening pandemic and tightening financial conditions would inflict a double blow to emerging markets and developing economies and severely set back their recoveries,” it added.
Economic growth predictions
The IMF’s estimates show that Nigeria’s economy will grow to 2.5% this year amid insecurity issues that have disrupted supply chains, even as restrictions on foreign exchange continue. The IMF sees the economy of Africa’s most
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