The International Monetary Fund has backed Nigeria’s closure of its borders with some neighboring countries over issues bordering on illegal trade.
Mr Abebe Selassie, the Director of the African Department at the IMF, gave the position at a media briefing on the sidelines of the World Bank/IMF Annual Meetings in Washington D.C.
He was responding to a question on whether the closure negates the African Continental Free Trade Agreement, AfCFTA.
Selassie said although free trade was critical to the economic growth of the continent, it must be legal and in line with agreements.
He said the IMF was hoping for a speedy resolution of the issues as the action was already taking a toll on the economies of the country’s neighbours.
