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25 countries get IMF debt relief

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… Nigeria Excluded

INTERNATIONAL Monetary Fund’s (IMF) has approved immediate debt service relief to 25 countries under its revamped Catastrophe Containment and Relief Trust (CCRT).

Managing Director of IMF, Kristalina Georgieva, announced this in a statement issued in Washington, D.C. today.

Georgieva stated that the relief was part of IMF’s response to cushion the impact of the COVID-19 pandemic in beneficiary nations.

“This provides grants to our poorest and most vulnerable members to cover their IMF debt obligations for an initial phase over the next six months.

It will help them channel more of their scarce financial resources towards vital emergency medical and other relief efforts.

The CCRT can currently provide about 500 million dollars in grant-based debt service relief, including the recent 185 million dollars pledge by the United Kingdom and 100 million dollars provided by Japan as immediately available resources. Others, including China and the Netherlands, are also stepping forward with important contributions.”

According to her, countries that to benefit from the approval are Burkina Faso, Central African Republic, Chad, Comoros, Democratic Republic of Congo, Gambia and Guinea Afghanistan and Benin.

Others are São Tomé and Príncipe, Sierra Leone, Solomon Islands, Tajikistan, Togo, Yemen, Guinea-Bissau, Haiti, Liberia, Madagascar, Malawi, Mali, Mozambique, Nepal, Niger and Rwanda.

Georgieva urged other donors to help the IMF replenish the Trust’s resources and further boost its ability to provide additional debt service relief for a full two years to its poorest member countries.

It will be recalled that IMF comprises 189 member nations  exchanging financial cooperation and stability as well as international trade to create employment, poverty reduction and sustainable economic growth around the world.

Knocks trail federal COVID-19 palliatives

More knocks are still coming against the novel coronavirus (COVID-19) palliatives recently approved by President Muhammadu Buhari.

The knocks are contained in reactions to the president’s extension of lockdown by another 14 days.

According to some Nigerians who took to social media to press for at least for N20,000 each person, federal government should pay to anyone who has Bank Verification Number (BVN).

The movement is trending on Twitter with a hashtag ‘pay us via BVN’ with some posts as followers:

@yemihazan ”Namibia government has started transferring money to it’s citizens bank accounts & every other means employable.. We have the money, resources and a good amount of donations.. we can’t go another 14 days in emptiness !pay us via BVN.”

@Generalvemo” Dear Nigerian government, pay 20k per person. pay us via BVN.”

@egwurita1”Over 80million American’s to get paid b4 Wednesday. Log into the designated website, input your details & get your relief package (in form of cash) Here in Nigeria , we only hear abt billions distributed to invisible millions of households Fed Govt! Every1 needs help now! pay us via BVN.”

@yemihazan ”Many have families to feed and many they depend on, if you must extend the lockdown make us of the BVN to aid survival.MBuhari, pay us via BVN.”

@Dannywalter” Buhari, People are robbing in Ejigbo and everywhere in Lagos and Ogun state, this may end or reduce if only you can pay us via BVN. We have BVNs sir.”

@Joshua_ubeku ”We no longer have money. We no longer have food. We can’t be at home and eat nothing. Pay us via BVN or else hunger will kill us before coronavirus! Mbuhari, pay us via BVN.”

@von_bismack” Government introduced a Cashless policy and also initiated Verification of account number through BVN to curb criminality and corruption, but now,the govt have decided that paying through BVN is too transparent for them.pay us via BVN.”

@the_izuchukwu”If NCDC can send us unsolicited text everyday, why can’t the Federal Government pay the relief funds directly to our accounts?pay us via BVN.”

@fumatic”About time they explain to us the reason they have our BVN and can’t send us money through the BVN. pay us via BVN.”

@shadduy”We don’t have a president. Buhari doesn’t care about his country and it’s citizens! Our leaders are useless and incompetent! This lockdown is about to turn to the purge.pay us via BVN.”

@ femillionaire”All of a sudden, our BVN is becoming obsolete to the Govt but na lie una dey lie. This is the reason why you pushed us to have BVN but you didn’t know it. So now the time has come for its usefulness. pay us via BVN.”

@samklef ”Baba do give away for ur citizens like I dey do for my citizens.Pay via BVN.”

@esiebog ”You expect people to stay indoors for another 14day? Without any form of relief?Who are those around Buhari?Who are those advising him? pay us via BVN.”

It will be recalled that President Buhari had on Monday extended the initial 14-day lockdown in affected states, citing need to curtail the spread of coronavirus disease in the country.

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