Statement by IMF Managing Director Kristalina Georgieva on Nigeria


Wednesday, April 08, 2020 / 12:57 PM / By IMF / Header Image Credit: DW


Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) issued the following statement:

Proshare Nigeria Pvt. Ltd.


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

Proshare Nigeria Pvt. Ltd.


"To support these efforts, Nigeria's government has requested financial assistance under the Fund's Rapid Financing Instrument (RFI). This emergency financing would allow the government to address additional and urgent balance of payments needs and support policies that would make it possible to direct funds for priority health expenditures and protect the most vulnerable people and firms. 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."

Proshare Nigeria Pvt. Ltd.


Related News

  1. The Pandemic Is No Time for Fiscal Distancing - Adesina
  2. World Bank Releases $1.9bn To Developing Countries In Bid To Fight Coronavirus
  3. Obasanjo Appeals to Agencies to Have a Plan That Will Moderate the Effect of COVID-19 in Africa
  4. IMF Declares a Recession, Project Recovery in 2021
  5. Economic Policies for the COVID-19 War
  6. IGAD Heads of State and Government Declaration on the Coronavirus (COVID-19) Pandemic
  7. Europe's COVID-19 Crisis and the Fund's Response
  8. African Development Bank Launches Record Breaking $3bn "Fight COVID-19" Social Bond
  9. COVID-19: Joint Statement by the Chair of IMFC and the Managing Director of the IMF
  10. COVID-19: AFREXIM Bank Rolls Out $3bn Facility To Support African Member States

Proshare Nigeria Pvt. Ltd.

Related News - Fiscal Policy

  1. COVID-19: Federal Government of Nigeria Announces Fiscal Stimulus Measures
  2. Fiscal and Monetary Responses to COVID-19 Menace: Racing Against Time
  3. FG Launches Financial Transparency Policy Portal
  4. Treasury Single Account - The Puerto Rican Government Earned $49m in Interest Fiscal YTD
  5. Friedrich Hayek and The Price System: The Future Of Classical Liberalism and The Free Market
  6. Economic and Institutional Restructuring for the Next Nigeria - Soludo
  7. How Government Policy Affects Business , Society In National Development and Changing Environment
  8. Nigeria's Fiscal Quandary: A Revenue Problem Or A Debt Problem?
  9. Irrespective of Who Wins 2019 Elections, ERGP Should Be Sustained - Toyin Sanni
  10. 2019-2021 MTEF and Fiscal Strategy - First Fiscal Projections Through to 2021
  11. Government Role In The Economy - Differentiating Policies And What Elections2019 Comes Down To


Proshare Nigeria Pvt. Ltd.

Related News - Monetary Policy

  1. MPC - Think Twice or You Sink! FDC Aligns With TheAnalyst Opinion that the CBN is Trapped
  2. CBN Issues Guidelines for the Implementation of the N50bn Targeted Credit Facility
  3. CBN Communique No. 129 of the MPC Meeting - Mar 23-24, 2020
  4. The Limits of Heteredox Economics Revealed, MPC Trapped and Has to Hold
  5. Monetary Policy Preview - Caught Between the Devil and the Deep Blue Sea
  6. Fiscal or Monetary, Both, Neither?
  7. COVID-19: CBN, Bankers' Committee To Support Pharmaceutical Coys
  8. Bankers Committee Reviews Impact of COVID-19 On Economy, Announces Support Packages
  9. Coronanomics: Figuring Out CBN's Recent Policy Intervention
  10. CBN Policy Measures In Response to COVID-19 Outbreak and Spillovers
  11. Bank of England Measures to Respond to The Economic Shock from COVID-19

Proshare Nigeria Pvt. Ltd.
Related News