MF chief warns Nigeria over Europe debt crisis
LAGOS, Nigeria — The head of the International Monetary Fund is warning that Nigeria could be affected by Europe’s escalating debt crisis.
IMF Managing Director Christine Lagarde says Africa’s most populous nation could be impacted because of its high volume of global trade and foreign investment.
She advised officials to keep reserves and build their resistance to shocks, and pointed to the country’s success in weathering previous global crises.
Lagarde delivered the warning Monday in Nigeria’s capital, ahead of a Tuesday meeting in the commercial capital of Lagos. On Tuesday, she said the IMF wants to give more technical help to support growth to create jobs in Africa.
Lagarde’s trip also will take her to neighboring Niger.
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