Nigeria can repay $3.4bn facility, says IMF
The International Monetary Fund has stated Nigeria has the capacity to repay the $3.4billion Rapid Financing Instrument it recently approved for the country.
To ensure that the financial assistance received as part of the COVID-19 response is used for intended purposes, the IMF said “Nigerian authorities committed to undertake an independent audit of crisis-mitigation spending and related procurement processes.” According to the IMF report, “they have put in place measures to contain the pandemic and mitigate its economic impact.”
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