‘No funding request from Nigeria’ — IMF speaks on speculations

The International Monetary Fund (IMF) says Nigeria has not made any funding request.

Abebe Aemro Selassie, director of the African department at the IMF, spoke during a press briefing in Washington DC.

Selassie was responding to a question on speculations within Nigeria’s business circle that the government is considering going to the fund for financing.

“No, there has not been a request for funding from the IMF in Nigeria,” Selassie said.

“To just be very clear, this is also a question that has come up in the context of some other countries. If and when countries turn to us, we hope that they do so having a very clear plan of how they want all kinds of economic reforms they want to pursue.

“And turning to us would be a way to help reduce the funding costs that they face.”

The IMF director said it is the right of every country that is in good standing with the organisation to borrow and have access to the “concessional financing that we provide. But there is no request for funding from Nigeria at the moment”.