Author: Ogooluwa Aremu

IMF Executive Board Discusses Global Imbalances The Executive Board of the International Monetary Fund (IMF) discussed the IMF staff paper, “Understanding Global Imbalances,” according to an official statement release. Against the backdrop of persistent and recently widening global imbalances, the paper presents a structured framework for understanding how domestic policies can influence current account positions by altering domestic saving and investment decisions. Staff analysis finds that traditional macroeconomic policies remain the dominant drivers of imbalances, but certain types of industrial policies could also contribute. Micro industrial policies—those targeting specific sectors or firms—generally have ambiguous and limited effects on the current…

Brent Price Hovers Around $110 on US-Iran Ceasefire Move Brent crude price hovered around $110 per barrel on Monday as pressure in the global oil market is expected to ease amid the US-Iran ceasefire. Oil traded in a relatively narrow band as diplomatic efforts to secure a temporary ceasefire between the US and Iran limited further gains, while persistent geopolitical risks in the Middle East continued to underpin prices. International benchmark Brent crude futures traded at $109.64 per barrel, up around 0.5% from the previous close of $109.03. US benchmark West Texas Intermediate (WTI) decreased about 0.04% to $111.49 per…

Moody’s Affirms Egypt’s Caa1 Ratings With Positive Outlook Moody’s Ratings (Moody’s) has today affirmed the Government of Egypt’s Caa1 long-term foreign and local currency issuer ratings and maintained the positive outlook. Also, the global rating agency affirmed Egypt’s foreign-currency senior unsecured ratings at Caa1, and its foreign-currency senior unsecured MTN program rating at (P)Caa1. It added that the positive outlook in place since March 2024 reflects the prospect that Egypt’s fiscal and external improvements achieved to date will be sustained, underpinned by the authorities’ policy and reform commitment, ultimately supporting a lasting improvement in government debt affordability and reduction in…

Labour Party Fixes April 28 for Presidential Primary The Labour Party has fixed its Presidential primary for April 28, State congresses for April 25, Local Government Area and Ward congresses for April 24 and April 23, respectively. This is contained in a letter to the Independent National Electoral Commission (INEC) signed by the Interim National Chairman of the Labour Party, Sen. Nenadi Usman and released to newsmen on Friday in Abuja. According to Usman, the letter is to notify the Commission of the approved schedule of activities for the Labour Party 2026 Elective Ward, Local Government Area (LGA), and State…

Reversing trend, US West Texas Intermediate crude grade surpassed Brent prices as the oil supply outlook worsened due to the escalating Middle East conflict.

Rwanda Unlocks Access to $250 million IMF Loan Rwanda has unlocked access to a $250 million loan from the International Monetary Fund (IMF) following a staff-level agreement reached with the authority on a 38-month Extended Credit Facility (ECF) arrangement of SDR 185.031 million. The extended credit facility, equivalent to US$ 250 million, is intended to support Rwanda’s economic policies and reforms, subject to approval by the IMF’s management and Executive Board. The ECF arrangement aims to support sound macroeconomic adjustment, rebuild policy buffers, and sustain reform momentum through three pillars: strengthening the macroeconomic policy mix, managing fiscal and debt risks…

Nigeria’s 33 recapitalised deposit money banks (DMBs) sourced 72.5% of their combined capital injections locally over two years, the Apex Bank said in an official statement.

Trump to Deliver Primetime Address on Iran War as Uncertainty Grips Washington Washington is holding its breath tonight as President Donald Trump prepares to address the nation in a rare primetime speech, scheduled for 9 p.m. Eastern Time, on the month long war with Iran. A conflict that has rattled global energy markets, strained America’s oldest alliances, and claimed thousands of lives across the Middle East. White House press secretary Karoline Leavitt announced the address on X, saying the president would “provide an important update on Iran,” though she offered no further details on what exactly he plans to say.…

Peoples Democratic Party (PDP) says a total of 4,264,675 Nigerians have registered as members of the party across the 36 states of the federation and the Federal Capital Territory (FCT) as at March 31.

Oil prices dropped sharply in the global commodity market on Wednesday after the U.S. announced its plan to exit Iran in two to three weeks, suggesting the Middle East war could end sooner than expected.