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.
Correct Answer:
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