For insisting that Nigeria must officially devalue its local cuurncy, the naira, the Federal Government may have closed all intention of seeking for loan facilities from the International Monetary Fund.
The country has instead gone for a total loan package of $3.6bn from the World Bank and China’s Export-Import Bank, according to the Finance Minister, Mrs. Kemi Adeosun.
Adeosun, who disclosed this to a foreign news network, on Tuesday, said the “Federal Government was hoping to sign in the next few months a loan worth $1.3bn from China’s Export-Import Bank to fund railway projects and another $2.3bn from the World Bank.”

Full Details: https://www.ripplesnigeria.com/nigeria-shuns-imf-seeks-3-6bn-loans-wbank-china/

Running away from IMF Conditionality?