Tag: IMF
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IMF Board Approves $2.3bn Aid Package For Kenya
The IMF on Friday approved a $2.34 billion aid package to Kenya to “address the urgent need to reduce debt vulnerabilities,” the institution said in a statement. The Washington-based development lender said the funds would be spread over 38 months, with an immediate disbursement of about $307.5 million, “usable for budget support.” “Kenya was hit…
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COVID-19: IMF asks banks to restructure loans
The International Monetary Fund has advised Nigerian banks, and their counterparts across the world to restructure loans given to sectors that were badly hit by the Coronavirus Pandemic. In a report titled: ‘Maintaining Banking System Safety amid the COVID-19 Crisis’, the IMF Director of the Monetary and Capital Markets Department, Tobias Adrian, said the pressure on…