- Considers Nigeria’s $3.4 billion COVID-19 Rapid Credit Facility
The International Monetary Fund (IMF) has acknowledged that the Nigerian government are deploying policies aimed at containing the spread of COVID-19 and cushioning its effect on the country’s economy.
The Fund made this known in a statement by its Managing Director, Kristalina Georgieva on Tuesday.
IMF also said it is considering the county’s application for a $3.4 billion COVID-19 Rapid Credit Facility to help the country in reviving the economy that has been battered by the outbreak of the pandemic.
Part of statement reads:
“President Buhari’s administration is taking a number of measures aimed at containing the spread of the virus and its impact, including by swiftly releasing contingency funds to Nigeria’s Center for Disease Control and working on an economic stimulus package that will help provide relief for households and businesses impacted by the downturn,”
“We are working hard to respond to this request so that a proposal can be considered by the IMF’s executive board as soon as possible,” Georgieva said.