Recession: IMF Offers Zero Interest Loan to Nigeria

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The international monetary fund, IMF, has offered a zero interest loan to Nigeria and other nations with economic woes in a bid to help them out of their economic quagmire.

“Despite signs of recovery and resilience in some economies, global growth continues to disappoint, with the expected pick-up driven primarily by emerging markets,” IMF MD Christine Lagarde said on Thursday at the IMF/World Bank meeting in the United States.

“If we want to improve the inequality issue, we must have a strong international safety net,” she said.

“In this context, I am pleased to reveal that our board recently approved the extension of the zero interest rate on all concessional facilities from 2016 to 2018, and thereafter, if there is a need for an extension.”

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