• April 17, 2021

IMF Releases $3.4 billion Emergency Fund To Nigeria

By Lilian Ogbonna, For Agenda Watchdog, May 7, 2020

(AGENDAWATCDOG) – The International Monetary Fund (IMF), has released $3.4 billion emergency fund to Nigeria, following Nigeria’s request for the fund under the Rapid Financing Instrument (RFI), which was approved on April 28, 2020.

Nigeria is expected to refund the fund to the IMF, which is at a 3.4 per cent interest rate, in five years. The fund is expected to help Nigeria confront the challenges posed to its economy by the COVID-19 pandemic.

Agenda Watchdog

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