• About
  • Contact Us
Friday, March 24, 2023
The Gist Day
No Result
View All Result
  • Login
  • News
    • All
    • National
    Appeal court upholds Adeleke’s candidacy in Osun governorship election

    BREAKING: Adeleke Wins As Appeal Court Reinstates Him as Osun governor

    NNPC Ltd. Is Not Recruiting - Spokesman

    Fuel Subsidy: Nigeria loses enormous infrastructure development worth trillions of Naira — NNPCL

    Labour Party presidential candidate, Peter Obi, addresses the press at his hometown in Agulu, Anambra state {PHOTOS}

    Ramadan: Atiku urges Muslims to seek spiritual guidance, peace

    Gov Yahaya mourns ex-Gombe Speaker Nasiru Nono

    Gov Yahaya mourns ex-Gombe Speaker Nasiru Nono

    Ike Ekweremadu

    Ekweremadu, Wife, Doctor Found Guilty Of Organ Trafficking

    Wike Issues AIT Quit Notice, Orders Media House to Vacate Premises in 48 Hours

    Wike Issues AIT Quit Notice, Orders Media House to Vacate Premises in 48 Hours

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
  • Business
  • National
  • Politics
  • Opinion
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel
  • News
    • All
    • National
    Appeal court upholds Adeleke’s candidacy in Osun governorship election

    BREAKING: Adeleke Wins As Appeal Court Reinstates Him as Osun governor

    NNPC Ltd. Is Not Recruiting - Spokesman

    Fuel Subsidy: Nigeria loses enormous infrastructure development worth trillions of Naira — NNPCL

    Labour Party presidential candidate, Peter Obi, addresses the press at his hometown in Agulu, Anambra state {PHOTOS}

    Ramadan: Atiku urges Muslims to seek spiritual guidance, peace

    Gov Yahaya mourns ex-Gombe Speaker Nasiru Nono

    Gov Yahaya mourns ex-Gombe Speaker Nasiru Nono

    Ike Ekweremadu

    Ekweremadu, Wife, Doctor Found Guilty Of Organ Trafficking

    Wike Issues AIT Quit Notice, Orders Media House to Vacate Premises in 48 Hours

    Wike Issues AIT Quit Notice, Orders Media House to Vacate Premises in 48 Hours

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
  • Business
  • National
  • Politics
  • Opinion
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel
No Result
View All Result
Morning News
No Result
View All Result
Home Economy

Nigeria May Get Loan Approval From IMF

Emmanuel Onminyi by Emmanuel Onminyi
April 28, 2020
in Economy, National, News
0
Nigeria May Get Loan Approval From IMF
0
SHARES
29
VIEWS
Share on FacebookShare on Twitter

As the Federal Government seeks ways to cushion the effect of COVID-19 on Nigerians, there are indications that the Executive Board of the International Monetary Fund, IMF, may approve the $3.4bn loan sought by Nigeria on Tuesday.

READ ALSO: African Union Inaugurates Response Unit In Nigeria

READ ALSO

BREAKING: Adeleke Wins As Appeal Court Reinstates Him as Osun governor

Estonia ranks as easiest European country to obtain a work visa; apply for jobs via official website

The Minister of Finance, Budget and National Planning, Zainab Ahmed, had on April 6, announce that Nigeria had applied for the loan and that the funds were expected within six to 12 weeks.

Reports from Reuters and Bloomberg, quoting unofficial sources in the IMF, revealed that the IMF would meet over the request today.

The loan, it was learnt, would be among the largest allocations by the IMF to an African country in response to the COVID-19 pandemic if approved by the Fund.

The IMF Executive Board is expected to approve the loan as it has already granted similar requests for several countries.

About 102 countries, according to the IMF, requested for support due to the impact of the COVID-19 pandemic.

The Managing Director of the IMF, Kristalina Georgieva, had in a statement on April 7 said that the organisation was working to respond to the request as soon as possible.

The IMF MD stated:

Nigeria’s economy is being threatened by the twin shocks of the COVID-19 pandemic and the associated sharp fall in international oil prices.

The IMF boss also observed that the Federal Government had initiated a number of measures aimed at containing the spread of the virus and its impact.

According to Georgieva, the measures include the swift release of contingency funds to Nigeria Centre for Disease Control, NCDC.

The Bulgarian economist added that the Federal Government was working on an economic stimulus package that would help provide relief for households and businesses impacted by the pandemic.

Meanwhile, Nigeria and other African countries need an estimated sum of $114bn to fund the campaign against the outbreak of the coronavirus disease in the continent, according to the IMF.

In the meantime, as part of efforts to cushion the effects of the pandemic on the country’s economy, the Federal Government is hoping to secure the IMF credit and other loan requests from the World Bank and the African Development Bank.

Tags: COVID-19IMFNCDCNigeria

Related Posts

Appeal court upholds Adeleke’s candidacy in Osun governorship election
News

BREAKING: Adeleke Wins As Appeal Court Reinstates Him as Osun governor

March 24, 2023
Estonia ranks as easiest European country to obtain a work visa; apply for jobs via official website
Business

Estonia ranks as easiest European country to obtain a work visa; apply for jobs via official website

March 24, 2023
NNPC Ltd. Is Not Recruiting - Spokesman
News

Fuel Subsidy: Nigeria loses enormous infrastructure development worth trillions of Naira — NNPCL

March 24, 2023
Labour Party presidential candidate, Peter Obi, addresses the press at his hometown in Agulu, Anambra state {PHOTOS}
News

Ramadan: Atiku urges Muslims to seek spiritual guidance, peace

March 24, 2023
Gov Yahaya mourns ex-Gombe Speaker Nasiru Nono
News

Gov Yahaya mourns ex-Gombe Speaker Nasiru Nono

March 24, 2023
Ike Ekweremadu
News

Ekweremadu, Wife, Doctor Found Guilty Of Organ Trafficking

March 23, 2023

glo
app




app
GTBank ADs GTBank ADs GTBank ADs

LATEST NEWS

Let Lagos State Be by Femi Okunnu, SAN

Let Lagos State Be by Femi Okunnu, SAN

March 23, 2023
Broda Shaggi say he makes over ₦‎20 million a month from creating contents

Broda Shaggi say he makes over ₦‎20 million a month from creating contents

March 24, 2023
Neo Reacts After Man Threatens To Beat Up His Girlfriend, Vee

“I didn’t expect to be hurt” BBNaija’s Vee Iye opens up on her break-up with Neo Akpofure (Video)

March 23, 2023
Estonia ranks as easiest European country to obtain a work visa; apply for jobs via official website

Estonia ranks as easiest European country to obtain a work visa; apply for jobs via official website

March 24, 2023
Dollar To Naira Black Market Exchange Rate Today 23rd December 2022

Dollar To Naira Black Market Exchange Rate Today 23rd March 2023

March 23, 2023

EDITOR'S PICK

“I’m Still Gonna Have S3x With Mother And Daughter Together One Day” Naira Marley Reveals

“I’m Still Gonna Have S3x With Mother And Daughter Together One Day” Naira Marley Reveals

May 21, 2021
Governor Okowa’s Daughter Tests Positive for COVID-19

Governor Okowa’s Daughter Tests Positive for COVID-19

June 26, 2020
Latest Political News In Nigeria For Today, Monday, 3rd October, 2022

Latest Political News In Nigeria For Today, Thursday, 14th July, 2022

July 14, 2022
BBNaija’s Ka3na Accused Of Underpaying Her Staff And Living Fake Lifestyle

Dissolving my marriage and moving abroad has been the toughest decision this year – #BBNaija’s Ka3na

March 7, 2022

About

We bring you the stories that perfect for news, finance, politics etc. Check our landing page for details.

Follow us

Categories

  • A Call to Prayer
  • Agriculture
  • Appointments
  • Business
  • Celebrities
  • Coronavirus
  • Corporate Amazon
  • Economy
  • Education
  • Entertainment
  • Environment
  • Fashion
  • Financial Literacy
  • From the Kaaba
  • From the Pulpit
  • Gist & Jabs
  • Health
  • Jobmart
  • Lifestyle
  • Living
  • Metro Gist
  • National
  • News
  • Op-Ed
  • Opinion
  • Politics
  • Press Release
  • Religion
  • Sport
  • State News
  • Tech
  • Tourism
  • Travel
  • Uncategorized
  • World News

Recent Posts

  • BREAKING: Adeleke Wins As Appeal Court Reinstates Him as Osun governor
  • Cops swarm Rihanna’s house as man shows up to propose
  • Oluwo of Iwo unveil daughter, names her after Olofin Adimula
  • Broda Shaggi say he makes over ₦‎20 million a month from creating contents
  • Disclaimer
  • Google Adsense
  • Home 2
  • Ikoyi building collapse: Corper who redeployed from Borno to Lagos, confirmed dead
  • Leaked Conversation: There Will Know Peace Until Hope Uzodimma Leaves Government House – Emeka Ihedioha
  • MAN Condemns Invasion Of Dangote Cement Plant By Kogi State Govt
  • Privacy Policy
  • Sample Page
  • TheGistDay
  • Whitemoney And New Lady Spotted Stepping Out Of Hotel Together (Video)

© 2022 TheGistDay.

No Result
View All Result
  • News
  • Business
  • National
  • Politics
  • Opinion
  • Tech
  • Gist & Jabs
  • Lifestyle
  • Entertainment
  • Health
  • Travel

© 2022 TheGistDay.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In