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IMF to consider Nigeria's $3.4 bln request on April 28 - statement

Published 24/04/2020, 15:38
IMF to consider Nigeria's $3.4 bln request on April 28 - statement

ABUJA/LAGOS, April 24 (Reuters) - The International Monetary
Fund on Friday said it would meet on April 28 to consider
Nigeria's request for $3.4 billion in emergency financing to
combat the impact of the coronavirus.
Sources told Reuters that setting a date to take the request
before the board is a sign the proposal was slated for approval.
Nigeria, which is reeling from the twin hits of the oil
price collapse and the new coronavirus pandemic, requested the
emergency funding under the Fund's Rapid Financing Instrument.
Finance Minister Zainab Ahmed is seeking a total of $6.9
billion from the IMF and other multilateral lenders.

The money would allow the government to address additional
and urgent balance of payments needs, and to direct funds to
priority health expenditures.

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