IMF set to launch $50bn lifeline for Nigeria, others
The International Monetary Fund has said it is set to launch a $50bn trust fund for low-income and vulnerable middle-income countries.
This will help them build resilience to balance of payments shocks and set them on the path to sustainable recovery before the end of 2022, also wil transform the country’s economy to become more resilient to achieve sustainable and inclusive growth.
IMF disclosed this in a post published on Thursday, titled, ‘A New Trust to Help Countries Build Resilience and Sustainability.’
According to the post, It said, “A proposed $50bn trust fund could help low-income and vulnerable middle-income countries build resilience to balance of payments shocks and ensure a sustainable recovery, as countries continue to battle COVID-19, it is crucial not to overlook the longer-term challenges.”