Nigeria entitled to $3.35bn in new IMF rights allocation - Punch Newspapers

The Managing Director of the International Monetary Fund, Ms Kristalina Georgieva, has said that the organisation begun allocating Special Drawing Rights of about $650bn on Monday.She was quoted in the statement, as saying, “The largest allocation of Special Drawing Rights in history – about $650bn – comes into effect today.

“The allocation is a significant shot in the arm for the world and, if used wisely, a unique opportunity to combat this unprecedented crisis.”Georgieva was quoted as saying, “The SDR allocation will provide additional liquidity to the global economic system – supplementing countries’ foreign exchange reserves and reducing their reliance on more expensive domestic or external debt.

“Countries can use the space provided by the SDR allocation to support their economies and step up their fight against the crisis.” She further said that the allocation would be made to countries based on their quota shares in the IMF. “SDRs are being distributed to countries in proportion to their quota shares in the IMF. This means about $275bn is going to emerging and developing countries, of which low-income countries will receive about $21bn – equivalent to as much as six per cent of GDP in some cases,” she said.

Don’t give it to buhari. We are tired of paying debts. Just share the money to the citizens make we all use or own package ourselves

Nigerian is a scam

Someone is about to cash out again 😂

Stop giving money to this administration pls

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