Wednesday, October 12, 2016

Nigeria set to enjoy zero interest on all IMF loans

Nigeria will now enjoy zero interest on all concessional facilities of the International Monetary Fund until 2018. The IMF's Managing Director, Christine Lagarde, disclosed this yesterday at the ongoing IMF/ World Bank 2016 General Meeting in Washington D.C. Nigeria's Finance Minister, Kemi Adeosun, has been negotiating to borrow from multilateral institutions to fund capital projects in the country. The cheap loans will be used to bridge the nation's infrastructure deficit in critical sectors.

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