IMF To Meet On Nigeria’s $3.4bn Emergency Loan Request On Tuesday

Covid-19-IMF-to-Provide-an-Emergency-Bailout-for-Nigeria

The International Monetary Fund (IMF) is relied upon to suggest the endorsement of $3.4 billion in crisis subsidizing for Nigeria as a feature of measures to pad the effect of COVID-19 on the country’s economy.

As per Bloomberg, the IMF Executive Board will meet on Tuesday one week from now to audit the solicitation. The loan, which is booked to be repayment in not over five years, is viewed as the biggest designation by the IMF to an African nation to help with the coronavirus pandemic.

Finance Minister, Zainab Ahmed, recently describe the loan as a feature of assets being required from multilateral associations to help the nation’s fight against the pandemic.

Since COVID-19 was affirmed in the nation on February 27, the pandemic has proceeded to upset day by day life, constraining the legislature to close schools, force lockdowns, and confine huge social occasions in addition to other things. Starting at 10 pm on Saturday, Nigeria had 1,095 affirmed coronavirus cases out of which 208 have recovered and 32 deaths.

Worldwide there have been over 2,000,000 affirmed cases and more than 200,000 deaths.

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