A reserve boost from the International Monetary Fund will help Nigeria reduce next year’s spending shortfall, according to the country’s finance minister.
Africa’s biggest economy, which received an IMF allocation of $3.35 billion in reserve assets - known as special drawing rights - plans to use the funds to reduce a budget deficit that’s set to exceed a legal limit, Finance Minister Zainab Ahmed told reporters Friday in the capital, Abuja.
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October 09, 2021 at 01:27AM
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Nigeria to Use IMF Reserve Boost to Fund Next Year's Budget - Bloomberg
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