The IMF had earlier noted that the Nigerian economy would witness a deeper contraction of 5.4%.
However, halting dividend payments may not go down well for many retail and institutional investors, who rely on bank dividends for regular income.
Barely a week after its board’s approval, the International Monetary Fund (IMF), has disbursed the sum of $3.4 billion to the CBN.
The MD of the IMF, Kristalina Georgieva has announced that the Fund would provide $500 million in grant-based debt service relief to 25 countries.
IMF considering a massive bailout that could help save Nigeria from a major economic crisis.
IMF has disclosed its plans to support countries affected by the adverse effects of the coronavirus pandemic especially low-income countries.
The IMF has expressed its readiness to mobilize $1 trillion lending capacity to help countries fight the coronavirus pandemic.
Geoffrey Okamoto is set to join the International Monetary Fund (IMF) as Deputy Managing Director following the proposal of Kristalina Georgieva.
IMF and World Bank have announced that the meetings set for April 16-18 would be done in a virtual format due to the coronavirus epidemic.
The MD of IMF, Kristalina Georgieva has announced that the Fund's first Deputy MD, David Lipton would step down at the end of February.