The International Monetary Fund has rejected claims that Nigeria has requested for a program with the fund.
It followed renewed concern about the state of the Nigeria’s economy after it slipped into recession in August last year.
Nigeria’s Finance Minister Kemi Adeosun had earlier indicated that his country will not turn to the IMF ahead of another meeting with the fund in March.
The Director of Communication at the IMF, Gerry Rice said that the fund is however still providing technical support for the West African Country.
“You know, Nigeria is clearly facing a challenging outlook, as we have said before. The authorities have initiated some measures, but more remains to be done but urgency is needed in implementing a coherent and credible package of monetary, fiscal, and structural policies, as the window for bold reforms is closing, as the 2019 elections are approaching fast” he said.
Rice further said that “The IMF staff concluded the 2017 Article IV consultation with the authorities earlier this year, and the Board discussion is scheduled for later in March”.
“The Nigerian authorities have not approached the IMF for a program, as such, there are no discussions or negotiations going on regarding a program with Nigeria” he concluded.
Source: Africafeeds.com / Fred Dzakpata
