The Executive Board of the International Monetary Fund (IMF) will meet on Tuesday to deliberate over Nigeria’s $3.4 billion loan request.
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Both Reuters and Bloomberg quoted unofficial sources in the IMF to have confirmed this.
Zainab Ahmed, Minister of Finance, Budget and National Planning, had said on April 6 that the funds were expected within six to 12 weeks.
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Kristalina Georgieva, the IMF Managing Director, had said on April 7 that the organisation is working hard to respond to the request as soon as possible.
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“Nigeria’s economy is being threatened by the twin shocks of the COVID-19 pandemic and the associated sharp fall in international oil prices.”
The IMF boss also observed that the Federal Government had initiated a number of measures aimed at containing the spread of the virus and its impact.
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The organisation has also said Nigeria and other African countries need an estimated sum of $114 billion to fund the campaign against the outbreak of the coronavirus disease in the continent.