Nigeria has no reason to seek IMF loan- Lagarde

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The Managing Director of the International Monetary Fund, Christine Lagarde, says given the determination and resilience of President Muhammadu Buhari’s administration, Nigeria has no reason to seek IMF loan. Lagarde, who is currently on a four-day visit to Nigeria, stated this yesterday at the Aso Rock Presidential Villa in Abuja while fielding questions from State House correspondents after meeting with President Buhari. \r\nResponding to a question on whether the IMF was also out to attach conditions to loans Nigeria might seek from the organisation, she stressed that she was not in the country to negotiate a loan with conditionality. Lagarde said what Nigeria needed most were fiscal discipline, implementation and leadership ambitions to serve the country well for sustainability. \r\n\”First, let me make it clear that I’m not here, nor is my team, in this country to negotiate a loan with conditionalities. We are not into programme negotiations.\’\’ So, of course, discipline is going to be needed; of course, implementation is going to be key for the objectives, and the ambitions to serve the country well, in order for it to be actually sustainable\”, she said.

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