According to a report from Reuters, theĀ International Monetary Fund (IMF) will warn Nigeria that its economy needs urgent reform andĀ the absence of this could delay talks over international loans worth $1.4 billion.

The report says IMF will urge Nigeria to change its exchange rate policy and that its recent reform plans are not sufficient to bring Nigeria out of its worst recession in 25 years.

The IMF said in a 68-page report seen by Reuters that “Much more needs to be done.” The report was “written after a final meeting between [IMF] representatives and top officials in Abuja before the fund issues its verdict on Nigeria’s economy.” The verdict is expected in 5 days, on March 29.

Read more at Reuters.

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