• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Sunday, June 1, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

IMF proposes $50bn fund to assist low income nations

IMF

The Matters Press by The Matters Press
January 21, 2022
Reading Time: 2 mins read
0
Nigeria gets $12 billion credit from World Bank, IMF in 2020


The International Monetary Fund (IMF) is proposing a $50 billion trust fund to help low-income and vulnerable middle-income countries to build resilience and sustainability as Covid-19 bikes harder.

RELATED POSTS

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

Tinubu explains mission as he marks second year in office

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

The trust fund is part of IMF’s options for channeling some of the $650 billion Special Drawing Rights (SDRs) issued in August 2021 to countries with strong external financial positions as well as vulnerable countries through a Resilience and Sustainability Trust (RST).

The IMF in a new blog post yesterday, stated that the proposed $50 billion trust fund could help low-income and vulnerable middle-income countries build resilience to balance of payments shocks and ensure a sustainable recovery

It stated that about three quarters of IMF’s membership could qualify for the RST financing, including all low-income countries, all developing and vulnerable small states, and all middle-income countries with per capita gross national income (GNI) below 10 times the 2020
International Development Association (IDA) operational cut-off , or about $12,000.

Nigeria falls within the category of potential beneficiaries as
GNI per capita in the country was reported at $2,157 in 2019, based on the World Bank collection of development indicators, compiled from officially recognised sources.

To qualify for RST support, an eligible IMF member would need a package of high-quality policy measures consistent with the RST’s purpose; a concurrent financing or non-financing IMF-supported programme with appropriate macroeconomic policies to mitigate risks for borrowers and creditors; and sustainable debt and adequate capacity to repay the Fund.

The IMF noted that access to RST financing would be determined case-by-case, based on the strength of reforms and debt sustainability considerations, and was expected to be capped at 150 per cent of IMF quota or SDR 1 billion, whichever is smaller.

It added that RST lending would be part of a broader financing strategy members would pursue to address longer-term balance of payments risks, involving a mix of multilateral, bilateral official, and private financing.

Like the IMF’s highly concessional and currently zero interest rate Trust for low-income countries, the RST’s resources would be mobilised on a voluntary basis from members who wish to channel their SDRs or currencies for the benefit of poorer or vulnerable countries.

The IMF stated: “Even as countries continue to battle COVID-19, it is crucial not to overlook the longer-term challenge of transforming economies to become more resilient to shocks and achieve sustainable and inclusive growth.

“The pandemic has taught us that not addressing these long-term challenges in a timely manner can have significant economic consequences, with the potential for future balance of payments problems.

“Climate change is another long-term challenge that threatens macroeconomic stability and growth in many countries through natural disasters and disruptions to industries, job markets, and trade flows, among others.

“These are global public policy challenges, and it is the shared responsibility of individual countries and the international community to take timely actions.”

The Fund noted that in a previous blog, it had explained how it was considering options for channeling some of the $650 billion SDRs issued in August 2021 from countries with strong external financial positions to vulnerable countries through a Resilience and Sustainability Trust.

More=ThisDay=

Tags: IMF
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Senate probes $3.5b with NNPC
Economy/Technology

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

May 30, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

Tinubu explains mission as he marks second year in office

May 29, 2025
Chevron, NNPC secure $1.4bn for drilling project
Economy/Technology

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

May 26, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

May 24, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
Economy/Technology

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

May 22, 2025
Eulogising Africa’s efforts in midwifing a Covid-19 vaccine
Economy/Technology

Nigeria’s ongoing health reform gets global endorsement with Pate’s honour by Time Magazine

May 21, 2025
Next Post
Poverty in West Africa increases by 3%

Poverty in West Africa increases by 3%

States, others frustrate completion of container depot

States, others frustrate completion of container depot

Recommended Stories

Africa’s remittance inflows hit $72b

Stop new borrowings, experts proffer alternative to Nigeria

July 9, 2023
Chevron, NNPC secure $1.4bn for drilling project

Nigeria hosts conference on oilfield sustainability, hydrocarbon accounting

March 22, 2024
July petrol pump price ranges between N140.80 and N143.80

Nigeria to become petroleum products refining hub

December 16, 2020

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling
  • Tinubu explains mission as he marks second year in office
  • Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us