Bloomberg Plunging oil prices stemming from the coronavirus outbreak led the International Monetary Fund (IMF) to cut its estimate for Nigerian economic growth, highlighting the difficulties Africa’s top crude producer faces reviving and diversifying its economy. The forecast was lowered to 2% from 2.5%, the lender said after concluding an Article IV consultation. Nigeria needs a major policy overhaul to ...

Bloomberg Unione di Banche Italiane (UBA) SpA, Italy’s fifth-largest bank, plans to pay out 40% of net income to shareholders on average over the course of its three-year strategic plan and may make an extra payment if capital is strong enough. UBI expects to eliminate about 2,030 positions and close 175 branches through 2022, the Bergamo, Italy-based bank said. That’s ...

Bloomberg The International Monetary Fund (IMF) is sending a small mission to Ukraine for talks on economic expansion as the government struggles to finalize a $5.5 billion loan. The team will visit Ukraine “for technical discussions on policies to achieve stronger growth and safeguard stability,” IMF resident representative in Ukraine Goesta Ljungman said. No time frame for the visit was ...