Nigeria Pulled Out of the IMF Program in 2002 Because

question 11

Multiple Choice

Nigeria pulled out of the IMF program in 2002 because:

• A)the economic and political elite of Nigeria wanted an independent economy unregulated by the whims and fancies of the IMF.
• B)the developed countries of the world pressed for its ouster on charges of massive violation of human rights by the Nigerian military dictatorship.
• C)it failed to meet the economic reform requirements, specifically failing to meet spending and exchange rate targets.
• D)it refused to accord the MFN status to the rest of the members of the IMF as it did to South Africa which was a violation of IMF statutes.
• E)it insisted on additional loans from the IMF even though it was defaulting on the repayment of the earlier loans.

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