IMF explains conditions for Nigeria's $3.4 billion loan

cushion the impact of the coronavirus pandemic on her economy, the Bretton wood Group clarified on Wednesday.Since April 6, when the Minister of Finance, Budget and National Planning, Zainab Ahmed, announced that Nigeria submitted a formal request for approval to draw 100 per cent of her contribution to the IMF, there has been conflicting opinions among Nigerians about the status of the funding.

“The World Bank and IMF that were in the meeting indicated to us that this is possible. We will be negotiating with them on the terms of those deferment. Besides, it said the approval of 100 per cent of Nigeria’s contribution to the Fund as emergency financial assistance was based on the country’s Special Drawing Rights under the RFI.Regardless, this newspaper sought further clarification from the IMF’s Senior Resident Representative and Mission Chief for Nigeria, Amine Mati, on the status of the funding approved for Nigeria.

Govt of propaganda and lies. Lying has become part of this govt

But AjuriNgelale said it's not a loan? We need for explanations on why Nigeria want to draw from what she saved over time in IMFNews and it's called LOAN WITH CONDITIONS.

There is no free lunch.

Can you fake news pedler stop calling this money a loan. Why you misleading Nigerians

Loans Loans Latest News, Loans Loans Headlines

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What Nigeria told IMF to secure $3.4 billion loan - Premium Times NigeriaDetails emerged on Wednesday about the case the Nigerian government made to secure the approval of the Executive Board of the IMF Seems this administration’s people think getting loan or assistance is an achievement? Functional government pride on having sovereign funds able to take them through crisis but this government prides on getting a loan or assistance as an achievement. The $3.4bn was under the Rapid Financing Initiative (RFI) which Nigeria is entitled and can access up to 100% of its contribution quota this mean we are not loaning from IMF but withdrawing our contribution So Tell me apart from fake news what other family business do you have? may their children and the children of their children also suffer from this generational debt they've plunged this country into
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