CHAIRMAN of Heir Holdings, Tony Elumelu on Friday told the International Monetary Fund and other development party to provide alternatives to Nigeria if collecting loans from China was injuries to the nation’s economy.Elumelu also said that his Foundation will continue to support the government and the people through the $5,000 grant, so as to create a more prosperous society
Mr Tobias Adrian, the Financial Counsellor and Director of the IMF’s Monetary and Capital Markets Department had warned on Wednesday during the launch of the Global Financial Stability Report for April, 2019 at the IMF/World Bank meetings in Washington D.C, United of America.According to him, “Capital flows, which includes capital flows from China are of course important for development.
But Elumelu said nature abhors vacuum, hence the IMF, World Bank and other development partners should provide alternatives that will create jobs. “Also to make sure that development agencies – IMF, World Bank and co help and support Nigeria to improve on her infrastructure, road transportation, access to electricity.
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