Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the country will make “judicious use” of the $3.4 billion emergency funding approved by the International Monetary Fund (IMF).
Mrs. Ahmed made this disclosure via her Twitter handle on Thursday, April 30, 2020.
Okay.ng recalls that the executive board of IMF approved $3.4bn emergency support for Nigeria to be used in the fight against COVID-19 in the country.
In an several tweets on Thursday, the minister assured that the fund would be accounted for as she appreciated the IMF for the support.
She said: “We appreciate the IMF for its timely response meant to assist us to mitigate the impact of the COVID-19 pandemic on our human population. Nigeria will certainly make judicious use and prudent management of the facility.
“These are trying times and every line item must count from this IMF facility. We will also continue to welcome and commend the Fund for its strong, and forward-looking commitment to support developing countries’ efforts to restart their economies.
“The IMF financial support will help limit the decline in international reserves and provide financing to the budget for targeted and temporary spending increases aimed at containing and mitigating the economic impact of the pandemic and of the sharp fall in international oil prices.
“The short-term focus on fiscal accommodation would allow for higher health spending and help alleviate the impact of the crisis on households and businesses.”
