The International Monetary Fund has advised the FG to devalue its currency. But the Federal Government disagrees with IMF's recommendations that it further marks down its currency that’s more than 18% overvalued to ease external imbalances, the Washington-based lender said. The Buhari led administration sees currency pressures stemming from global outflows caused by the coronavirus pandemic and believes another depreciation would add to double-digit inflation, according to the IMF’s Article IV report for the country that was published Monday.
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