The International Monetary Fund has urged El Salvador to reverse its decision to make Bitcoin legal tender. El Salvador had in September 2021 became the first country to allow consumers to use the cryptocurrency in all transactions with the US dollar. The decision led to large-scale protests over fears it would bring instability and inflation to the…
The International Monetary Fund has said that food inflation remains a major problem in Nigeria. The IMF is of the view that rising food prices is the major cause of the general inflation in Nigeria and other neighbouring countries. The international financial regulator says that other parts of the world are also suffering from rising inflation, which…
The International Monetary Fund has warned that the economic impact of the coronavirus pandemic is pushing more than thirty million people in sub-Saharan Africa into poverty. The IMF has, therefore, called on richer countries of the world to offer help to African countries, including providing them with vaccines. The global financial institution says that some African countries…