IMF to decide Nigeria’s aid request April 28

The executive board of the International Monetary Fund (IMF) will meet next week (Tuesday, April 28, 2020) to take a decision on Nigeria’s request for financial assistance.

This is coming after Nigeria submitted a request for $3.4billion under the IMF’s rapid financing instrument.

The rapid financing instrument is a short-term facility that typically bears interest.

At the just-ended spring meetings of IMF and World Bank Group; the IMF Managing Director Kristalina Georgieva, said they will prioritise aid requests from sub-Saharan African during these times.

“Sub-Saharan Africa ought to be the centre of our attention and it is. We now have more than 30 countries applying for emergency financing. We are prioritising and rapidly responding to this request recognising how critical this lifeline is for them.”

The coronavirus pandemic has affected the global economy negatively. Most sectors have come to a standstill as experts predict a decline in the economy.

The pandemic is said to have wiped out at least 30% of global oil demand which led to a supply glut and a dip in crude oil prices.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Amazing transformation of 21-year-old man bullied for being born different (video)

Amazing transformation of 21-year-old man bullied for being born different (video)

Sonko’s reaction as daughter Sandra Mbuvi goes international

Sonko’s reaction as daughter Sandra Mbuvi goes international

Eliud Kipchoge's special Sh20,000 earphones he can't live without

Eliud Kipchoge's special Sh20,000 earphones he can't live without

Abel Mutua's movie makes over Sh4M in 5 days

Abel Mutua's movie makes over Sh4M in 5 days

Vera imports Baby Diapers from US, Help rebuild Boniface Mwangi's house & other stories on #PulseUhondoMtaani

Vera imports Baby Diapers from US, Help rebuild Boniface Mwangi's house & other stories on #PulseUhondoMtaani

Sh79,000 per month jobs for Kenyans without degrees

Sh79,000 per month jobs for Kenyans without degrees

Davido and Chioma spotted together for the first time since rumoured breakup

Davido and Chioma spotted together for the first time since rumoured breakup

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

5 things you should never do to please a woman

5 things you should never do to please a woman