Tag: Foreign loans
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Tougher days ahead as IMF warns of decline in foreign loans to Nigeria
The International Monetary Fund (IMF) has warned that a significant reduction in foreign lending to Nigeria and other African countries is imminent as the global economy continues to suffer further shocks and contractions. IMF Deputy Department Head Wenjie Chen, made the announcement during a keynote speech at the International Monetary Fund’s Regional Economic Review held…
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Foreign loans not meant to fund recurrent expenditures – FG
The Federal Government has clarified that the debts being taken are not for funding recurrent expenditures but for implementing capital projects which previous administrations failed to carry out.