Nigeria’s Cabinet has agreed to increase spending by 5% but reduce the deficit in next year’s budget to be sent to Parliament for approval in August.
The World Bank has chosen Jim Yong Kim as its next chief in a decision that surprised few despite the first-ever challenge to the US.
Nigerian Finance Minister Ngozi Okonjo-Iweala says the World Bank appointment is not being decided on merit and that the US nominee will win.
Serious doubt exists about the transparency of the process in electing the next World Bank president, Finance Minister Pravin Gordhan said.
Nigeria’s Ngozi Okonjo-Iweala says the World Bank needs a shake-up to end the inertia that has built up over six decades.
Nigeria’s Finance Minister Ngozi Okonjo-Iweala, backed by Africa’s leading economies, has announced her interest in the World Bank’s top job.