IMF
Tells ICP
Nigeria, Hit
By Oil Prices,
May Need a
Program,
Welcome to
Apply
By
Matthew
Russell Lee
UNITED
NATIONS,
January 19 --
The
International
Monetary Fund
said that in
response to
fallen oil
prices,
“Nigeria will
have to
adjust” and
“might need a
program from
the Fund,” IMF
chief economic
Olivier
Blanchard
answered Inner
City Press
from Beijing
on January 20.
To the IMF's
World Economic
Outlook Update
press
conference,
Inner City
Press
submitted this
question:
“Please
summarize what
the decline in
oil prices may
mean for
countries in
Africa, and
what the IMF
is prepared to
do about those
countries
negatively
impacted.”
As the second
online
question
taken, this
question was
put to
Blanchard, who
responded:
“Most
African
countries are
importers and
so are helped.
Some countries
are not and
the main
example is
Nigeria.
Nigeria will
have to
adjust. I do
not know at
this stage
whether they
can adjust on
their own or
they might
need a program
from the Fund.
If they did
any member is
welcome to
come at this
stage I have
no information
about it.”
Earlier on
January 19,
the UN
Security
Council issued
a Presidential
Statement
about, but not
funding, the
fight against
Boko Haram.
Security
Council
sources
leaving the
meeting told
Inner City
Press that for
funding, those
in the region
-- i.e.
Nigeria --
should be
looked to
first.
But if Nigeria
may even need
to apply for
an IMF
program, is it
reasonable for
the powers in
the UN and it
Permanent Five
members of the
Security
Council to
expect it to
be entire
responsible
for fighting
Boko Haram?
We'll have
more on this.
Footnote:
while
Blanchard's
"main example"
was Nigeria,
what about
Angola? What
about Equatorial
Guinea? To the
north, what
about Libya?
Questions,
questions...
, 
