The IMF's upgraded forecasts and plunging inflation suggest the reform gamble is paying off. But euphoria would be premature.
When the International Monetary Fund upgrades a country's growth forecast not once but twice in three months, markets tend to sit up and take notice. When that country is Nigeria—a perennial underperformer saddled with chronic inflation, oil dependency, and a reputation for false starts—the attention becomes even more acute. The Fund's October World Economic Outlook projects Nigeria's economy will expand by 3.9 percen
