Kemi Adeosun, minister of finance, has revealed why Nigeria is insisting on not taking the International Monetary Fund (IMF) loan, in the face of pressing economic challenges.
Adeosun, who spoke to journalists after the G-24 meeting at the IMF Headquarters in Washington, said it was a two-way street discourse that sought to solve mutual and specific problems.
“They are hearing from us, what we are doing. And we are hearing from them what’s on offer, and what we have to do now is to go out into individual meetings and actually tie up some of these arrangements and tie them to specific projects, and that is what we’ll be doing in the next few days” she said.
WHY WE WON’T TAKE IMF LOANS
“We are not seeking loans from the IMF; the IMF simply gave us technical support. We are seeking budget support loans from the World Bank and from the ADB, and we are making progress with that”.
“We don’t have a balance of payment problem, and that is what the IMF looks to support country through. We have the fiscal challenge with our budget; therefore, we are looking for budget support, which is what the World Bank and the ADB will do.”
Adeosun said Nigeria made its contributions on solving infrastructure problems across emerging markets, while gleaning from what the multilaterals also have to offer.
“We had a very good meeting. We had presentations by.......................
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Source: thecable.ng
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