BREAKING NEWS

Metro

World

Spiritual

Saturday, 8 October 2016

Nigeria Just Rejected IMF's Interest Free Loan, and Here's Why

The International Monetary Fund, IMF has announced to offer an interest free loan to Nigeria and other countries having economic difficulties, but Nigeria, with its huge need of a interest free loan, is having none of it.

Reports said top Nigerian officials who were present at the meeting weren't too keen on the offer.

“The IMF people have been talking to us for some time, asking us to come and take loans, but their facilities come with too many unfavourable conditions," a government official said.

“For instance, they told us to remove fuel subsidy and devalue the naira, which we did. If we take their fresh offer, they may ask us to raise the price of fuel and further devalue the currency, but these will create unrest in the country because the people are already suffering and we are aware of this.

“We will rather take a facility from the World Bank. The IMF facility comes with too many conditions; though we need a lot of funds to come into our economy now, we have to be wary of some of the tough conditions attached to them.”

PLACE YOUR CONTENTS ADVERT BELOW:>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Click Here To Download A Free Guide That Shows How To Make 100k Weekly Without Lifting Your Finger (Using An Autopilot System)

Click Here To Discover Why Experts Conclude This Money Making Secret Is 100% Legal, 446.67% Better and 217% Safer Than MMM.

Loading...

THANK YOU FOR VISITING 247 NIGERIA NEWS UPDATE AND KINDLY VISIT US AGAIN! CLICK HERE TO JOIN OUR FACEBOOK FAN PAGE FOR NEWS UPDATES

For Instant Updates On Twitter Page @247NGNEWSUPDATE

Post a Comment

 
Copyright © 2015 247 Nigeria News Update
Website by Tech Guardian