Tue. Oct 26th, 2021

Nigeria, however, is not the only country worried about the impact of stronger coronavirus variants.

The emergence of highly infectious virus variants “could derail the recovery and wipe out $4.5trn, cumulatively, from global GDP, by 2025,” the International Monetary Fund said in a 27 July press briefing.

“Financial conditions could also tighten abruptly, if there is a sudden reassessment of the monetary policy outlook, especially in the United States. A worsening pandemic and tightening financial conditions would inflict a double blow to emerging markets and developing economies and severely set back their recoveries,” it added.

Economic growth predictions

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