Covid-19: No Debt Relief for Nigeria from IMF
The IMF has spoken: Nigeria, no debt relief for you, coronavirus or not. Yes, the world cannot be subsidizing your recklessness, lack of visioning process and penchant for looking outside instead of inventing internal ways to rise. People, this may not be bad: if you say we are poor (highest number of poor people) and you want to help the poor - and at the same time, you cannot include us in the list of 25 poor countries that will receive your help, it means we are not poor and you got it all wrong!
“The CCRT can currently provide about US$500 million in grant-based debt service relief, including the recent US$185 million pledge by the UK, and US$100 million provided by Japan as immediate resources. Others, including China and the Netherlands, are also stepping forward with important contributions. I urge other donors to help us replenish the Trust’s resources and boost further our ability to provide additional debt service relief for a full two years to our poorest member countries,” she said.
The countries in line to benefit from the debt service relief include 20 African nations. They are as follows: Afghanistan, Benin, Burkina Faso, Central African Republic, Chad, Comoros, Congo, D.R, The Gambia, Guinea, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali, Mozambique, Nepal, Niger, Rwanda, Sao Tome and Principe, Sierra Leone, Solomon Islands, Tajikistan, Togo and Yemen.
Mr. President, time for Plan B - #vision and #strategy.