FG not turning to IMF for loan

President Muhammadu Buhari

FG not turning to IMF for loan

The Ministry of Budget and National Planning has explained that the Federal Government is not looking to source any loan from the International Monetary Fund (IMF), as reported by a national newspaper on Friday.

While briefing a French delegation that visited him in Abuja on Thursday, on what the Federal Government was doing to drive revenue for its activities, the Minister, Senator Udoma Udo Udoma, explained generally that government was exploring both internal and external sources, but emphasized that in the case of external sources, government would only be looking at institutions that can give concessionary terms.

Throughout the statement issued by the Ministry on the visit, which was not covered by any media organization, no mention was made of any specific loan from any institution.
The Federal Government does not have need to go to the IMF for any loan at this time.