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EXPLAINER: Not a loan, no conditionalities… What to know about #IMF’s $3.4bn to #Nigeria | TheCable thecable.ng/explainer-loan…

#IMFEmergencySupport #COVID19
The executive board of the International Monetary Fund (IMF), on Tuesday, approved Nigeria’s request for financial assistance to the tune of $3.4 billion. The disbursement is the highest so far given to any African country during the COVID-19 pandemic. thecable.ng/breaking-imf-a…
TheCable has provided these questions to help you understand the grounds on which Nigeria got the facility from the IMF. thecable.ng/explainer-loan… #IMFEmergencySupport #COVID19
IS IT A LOAN?
No, it is not a loan. Countries hold reserves with the IMF. These reserves are held in what we can technically call a currency called SDR (special drawing rights). thecable.ng/explainer-loan… #IMFEmergencySupport
DOES NIGERIA HAVE TO PAYBACK?

As a member of the IMF, Nigeria has to hold reserves with the fund. Nigeria has to build these reserves that it has drawn from within 3¼ to 5 years. thecable.ng/explainer-loan… #IMFEmergencySupport #COVID19
DOES IT COME WITH CONDITIONS LIKE FLOATING THE NAIRA?

No, the rapid financing instrument under which Nigeria drew its reserves is not subject fiscal or monetary reforms that would normally accompany full-fledged IMF loan. Read more 👉thecable.ng/explainer-loan… #IMFEmergencySupport
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TheCable
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OPINION BY SIMON KOLAWOLE: Is it time to lift the lockdown? | TheCable bit.ly/2VVI7Fy

#TheLockdown
#COVID19
Perhaps the biggest COVID-19 debate in Nigeria today is: should the lockdown be lifted? Residents of Lagos state and the federal capital territory (FCT) have been under a lockdown since March 30. The aim is to slow the spread of the virus by limiting public interactions. #COVID19
The night the lockdown started, @NCDCgov reported a total of 131 confirmed cases and two deaths. There were 81 cases in Lagos, 25 in FCT and three in Ogun. As of Friday, almost four weeks later, total confirmed cases had gone up to 1,095, with 32 deaths and 208 discharged.
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TheCable
@thecableng
In Sokoto, children stay out of school for as little as N200 | TheCable bit.ly/2TDSttL Cc: @AWTambuwal, @DrAhmadLawan, @MBuhari, @UNICEF
For most part of the week, Maccido is under the hot sun in the streets of Sokoto struggling to see that he returns home with any money he can get from hawking sachet water for his upkeep and — more importantly — that of his fmaily.
He told TheCable he hits the ground running as early as 7am sometimes, joining two of his friends, both selling sachet water, to roam the city of the Caliphate, mainly along the Sokoto-Gusau road. bit.ly/2TDSttL via @thecableng
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TheCable
@thecableng
VIDEO: 'You shut us out on approval of Buhari's $22.7bn loan' — Abaribe tackles Lawan
📹: @ARISEtv
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