Recently the International Monetary Fund (IMF) granted debt relief to 25 countries of which Nigeria was not included. The Minister of Finance, Budget and National Development Zainab Ahmed, explained why Nigeria wasn't among the countries that benefited from the debt relief.
She said, quoting the international body, that the debt relief was aimed at the “poorest and most vulnerable” IMF member nations.
Adding that “since Nigeria is not indebted to the IMF, there is no outstanding debt obligation to be forgiven.”
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She said, “The new application is for financing under the Rapid Financing Initiative (RFI).
“Nigeria is entitled to access up to 100% of its quota under the Rapid Financing Initiative (RFI). Our current financial position at the IMF is public information on International Monetary Fund website.”
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