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IMF Unveils Fresh $45b Fund For Nigeria, Others

The International Monetary Fund, IMF has unveiled plans for a fresh $45 billion for a new trust to help “low-income and vulnerable middle-income countries” cope with protracted challenges like pandemics and climate change, it announced Wednesday. According to the World Bank collection of development indicators, Nigeria is among lower-middle-income countries with a gross national income […]

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Rising Debt: IMF Raises Fresh Alarm, Says Nigeria, Other Nations At High Risk Of Debt Distress

The International Monetary Fund, IMF has raised a fresh alarm that Nigeria and 72 other countries are at high risk of debt distress. IMF raised the alarm in the latest report titled ‘Restructuring Debt of Poorer Nations Requires More Efficient Coordination’ published on Thursday. “Low-income countries face fewer debt challenges today than they did 25 […]

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Ukraine-Russia Crisis: Africa economy will be Complicated — IMF

Ms Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) says the war in Ukraine can have a devastating blow for Africa. Georgieva raised the concern in a statement by IMF media contact person, Nicolas Mombrial, on Thursday, following a meeting with African Ministers of Finance, and African central bank governors. Also at the […]

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IMF approves $1.4bn emergency support for Ukraine

The International Monetary Fund has approved $1.4bn in emergency financing for Ukraine to help meet urgent spending needs and mitigate the economic impact of Russia’s military invasion. The global lender said Ukrainian authorities had cancelled an existing standby lending arrangement with the IMF but they would work together to design an appropriate economic programme focused on rehabilitation […]

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 IMF, World Bank Leaders Raise Alarm On Global Impacts Of Ukraine, Russia War

By Paul Ajayi The leaders of the World Bank and IMF have raised an alarm that Russia’s invasion of Ukraine will have repercussions for the global economic recovery. According to IMF Managing Director, Kristalina Georgieva, she expressed “deep concern” about the fighting’s impact on the people of Ukraine, and cautioned in a tweet that the […]

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Rising Debt Profile: IMF Expresses Confidence In Nigeria’s Ability To Repay

By Babajide Okeowo Nigeria’s rising debt profile does not seem to bother the International Monetary Fund, IMF as the Washington-based institution has disclosed that the country has adequate capacity to repay its loan. The executive board of the international lender said this in a statement issued on Monday following the conclusion of its 2021 article […]

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IMF Proposes $50bn To Support Nigeria, Other Low, Middle-Income Countries To Build Sustainability

By Babajide Okeowo The International Monetary Fund (IMF) is proposing a $50 billion trust fund for Nigeria and other low and vulnerable middle-income countries to build resilience and sustainability This was disclosed in a blog post published on Thursday by the Washington-based International Lender. “A proposed $50-billion trust fund could help low-income and vulnerable middle-income […]

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