• Business - Economy
  • Updated: April 17, 2020

IMF Debt Relief: Why Nigeria Is Not Listed Among Beneficiaries

IMF Debt Relief: Why Nigeria Is Not Listed Among Beneficiari

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.”

READ ALSO: Coronavirus: 25 Countries Get Debt Relief From IMF

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.”

Related Topics

Join our Telegram platform to get news update Join Now

0 Comment(s)

See this post in...


We have selected third parties to use cookies for technical purposes as specified in the Cookie Policy. Use the “Accept All” button to consent or “Customize” button to set your cookie tracking settings