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IMF to meet April 28 on Nigeria’s request for $3.4 billion emergency fund

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The International Monetary Fund (IMF) on Friday said it would meet on April 28 to consider Nigeria’s request for $3.4 billion in emergency financing to combat the impact of the coronavirus.

Sources told Reuters that setting a date to take the request before the board is a sign the proposal was slated for approval.

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Nigeria, which is reeling from the twin hits of the oil price collapse and the new coronavirus pandemic, requested the emergency funding under the Fund’s Rapid Financing Instrument.

Finance Minister, Zainab Ahmed, is seeking a total of $6.9 billion from the IMF and other multilateral lenders.

The money would allow the government to address additional and urgent balance of payments needs, and to direct funds to priority health expenditures.

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