IMF Rejects Nigeria’s Loan Request

Managing Director of the International Monetary Fund, Christine Lagarde, has rejected a loan application from African giants Nigeria.

This is because of the country’s potential for an economic rebound, Economy Watch says.

The Muhammadu Buhari-led administration in December announced such efforts as diversification and infrastructure investing—factors which bolstered the IMF’s confidence in Nigeria.

Furthermore, the organization will monitor the country’s budget and finances going forward.