The Washington-based lender’s executive board approved the three-year loan last week Friday.
The Buhari government wants to raise as much as $1 billion in international capital markets
The country's earnings from oil for 2015 were down sharply, nearly lower by about 34% against 2014
Egyptian Pound worst performer in the Middle East behind Algeria’s Dinar. In Angola the kwanza has been devalued twice this year.
“We acknowledge the progress [Ghana's economy has made] but believe that it’s too early to declare victory”, says an economist.
IMF joins World Bank in revising down Africa 2015 growth, blames falling commodity prices and China's cooling
But lender sees a rebound for the continent's economy in 2016.
West African nation turned to the IMF last year as its currency plunged.
The loan requires the government to cut back on spending, especially on civil servants’ salaries, which account for almost 70% of state tax revenue.