IMF pledges new lending support for low-income countries

IMF pledges new lending support for low-income countries

IMF pledges new lending support for low-income countries     The International Monetary Fund (IMF) has announced that it would revamp its concessional lending programmes to better support low income countries (LIC) during COVID-19 and aid their economic recovery. In a news release, the Bretton Woods institution Thursday said its executive board, last week, backed reforms that include raising the access limits for concessional financing for low-income countries by 45 per cent; eliminating access limits for the poorest countries with eligible programmes and maintaining zero per cent interest rates on…

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Again, FG blames naira woes on oil price, capital inflow declines

Credit to private sector hits N32.2trn in Maysector recorded marginal uptick in April – CBN report

As local currency plunges further to N460/1$ _____________________________ Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) has blamed loss of value by the country’s local currency, naira, on the declining oil price in the global market and the fall in capital inflow into the country. He said this during the 13th annual Banking & Finance Conference, being organised by the Chartered Institute of Bankers of Nigeria (CIBN) with the theme, “Facilitating a sustainable future: The role of banking and finance,” on Tuesday. On the same say, the naira…

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