IMF Excludes Nigeria From 25 Nations Granted Debt Relief - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
April 14, 2020
The International Monetary Fund, IMFhas granted debt relief to 25 countries, mostly African nations with theexception  of Nigeria.
IMF Managing Director KristalinaGeorgieva in a statement said it would provide 500 million dollar ingrant-based debt service relief to these countries.
It listed the beneficiaries asAfghanistan, Benin Republic, Burkina Faso, Central African Republic, Chad,Comoros, D.R Congo., The Gambia, Guinea, Guinea-Bissau, Congo, Haiti, Liberia,Madagascar, Malawi, Mali, Mozambique, Nepal, Niger Republic, Rwanda, São Toméand Príncipe, Sierra Leone, Solomon Islands, Tajikistan, Togo and Yemen.
Meanwhile, the fund has also advisedcommercial banks to restructure loans in a bid to mitigate the impact of theCOVID-19 pandemic.
According to a report entitled‘Maintaining Banking System Safety amid the COVID-19 Crisis’, IMF Director ofthe Monetary and Capital Markets Department, Tobias Adrian, called for therestructuring of loans extended to sectors that were adversely affected by thepandemic.
Adrian called on regulators andsupervisors to also remind banks about flexible credit risk management.