Nairametrics
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home General News

Nigeria’s reserves would be boosted by a new IMF grant – AfDB

Ubah Jeremiah Ifeanyi by Ubah Jeremiah Ifeanyi
August 29, 2021
in General News
AfDB partners DFID to unveil $80m infrastructure financing for Africa, ADB launches $3 billion “Fight COVID-19” Social Bond, US calls for an independent probe of AfDB president, Akinwumi Adesina, AfDB board denies asking Adesina to step down as Obasanjo says the bank risks being hijacked
Share on FacebookShare on TwitterShare on Linkedin

The International Monetary Fund’s $650 billion Special Drawing Rights grant, which includes $27 billion for African countries, will help developing countries strengthen their reserves.

The was disclosed by the President of the African Development Bank, Akinwumi Adesina,  during a closed-door session between German Chancellor, Angela Merkel and heads of international development institutions.

The AfDB, in a statement titled ‘International community must act to avert a two-speed global economic recovery post-Covid-19’, quoted Adesina as saying, “The recent IMF release of $650bn in SDRs, with $27bn to Africa, will go a long way in helping to boost reserves for developing countries.

 “If the developed countries reallocate $100bn of SDRs to Africa, as agreed at the Paris leaders meeting and by the G7, that will further support faster economic recovery in Africa.”

The Presidents of the African Development Bank, the International Monetary Fund, the World Trade Organization, the World Bank, the Organization for Economic Cooperation and Development, and the International Labour Organization were among those present at the closed-door meeting.

Angela Merkel, the German Chancellor, has called on the IMF, the G7, and the World Bank to help low- and middle-income nations recover from the Covid-19 problem by developing solutions.

“We have noted that the recovery after the pandemic is a two-speed recovery, which is cause for concern,” she said.

Related

Tags: IMFInternational Monetary FundSpecial drawing rights

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Access Bank
Bankers Committee
Flowmono

Bfpeer
Mega Millions
FCMB
Ikeja Electrics
Zenith CEX
Kwakol Markets
First bank





    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Crestron, the Rolls Royce of home automation is taking the LucreziaBySujimoto to the next level
    • Gaming and education has a new name: RoboApe (RBA) is taking the crypto world by storm
    • The SWOOTs capitalization declines w-o-w by N23 billion

    Follow us on social media:

    Recent News

    Crestron, the Rolls Royce of home automation is taking the LucreziaBySujimoto to the next level

    Crestron, the Rolls Royce of home automation is taking the LucreziaBySujimoto to the next level

    May 22, 2022
    Gaming and education has a new name: RoboApe (RBA) is taking the crypto world by storm

    Gaming and education has a new name: RoboApe (RBA) is taking the crypto world by storm

    May 22, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Ranking & Reviews
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • General News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com