Nigeria, others to benefit, IMF unveils 45 billion dollars Fund.

Written by on April 16, 2022

The IMF plans to raise at least 45 billion dollars for a new trust to help low-income and vulnerable middle-income countries cope with protracted challenges like pandemics and climate change, it announced Wednesday.

According to the World Bank collection of development indicators, Nigeria is among lower-middle-income countries with a gross national income (GNI) per capita of 2,157 dollars in 2019.

IMF Managing Director Kristalina Georgieva said in a statement announcing the new trust said as the world is confronting consecutive global shocks, we must not lose sight of the critical actions needed today to ensure longer-term resilience and sustainability.

Around three-quarters of the IMF’s 190 members will be eligible to borrow from the new tool, it estimates.

Seun Fakorede

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