What kinda useless journalism is this really?
How can Nigeria be “excluded” from IMF debt relief when, at time of the relief approval (April 2020), it had no IMF debt?
A year after that clarification, some papers have come back to repeat same ignorant claim debunked a year ago.
How can Nigeria be “excluded” from IMF debt relief when, at time of the relief approval (April 2020), it had no IMF debt?
A year after that clarification, some papers have come back to repeat same ignorant claim debunked a year ago.
This has to be a thread really. Can’t be addressed in a single tweet.
Why do some newspapers specialize in embarrassing themselves and the entire industry in this manner.
There’s no basis whatsoever for that kind of headline, by any newspaper that wants to be taken seriously.
Why do some newspapers specialize in embarrassing themselves and the entire industry in this manner.
There’s no basis whatsoever for that kind of headline, by any newspaper that wants to be taken seriously.
The debt service relief was announced by the IMF on April 13, 2020, under its “Catastrophe Containment & Relief Trust (CCRT)”. It went to 25 countries owing the Fund (among its poorest members), to enable them cope with the emerging impact of Covid. And they all requested for it.
Nigeria was of course neither eligible for it, or in need of it, since it wasn’t owing the IMF. Can there be debt relief without debt in the first place?
But even at the time of the announcement, some papers disgracefully went to town gloating about Nigeria’s “exclusion”.
But even at the time of the announcement, some papers disgracefully went to town gloating about Nigeria’s “exclusion”.
Two weeks after the CCRT announcement, Nigeria enjoyed its own gesture (for which it was eligible) from the IMF - in the form of $3.4 billion “in emergency financial assistance under the Rapid Financing Instrument (RFI).” So not debt relief (CCRT), but concessional lending (RFI).
To now see a regurgitation of debunked 2020 fake news in 2021, by national newspapers, is disheartening to say the least.
Nigeria was/is not eligible for this debt relief cited below, & did not request for it. Nigeria has since got the IMF assistance it is eligible for - the RFI
Nigeria was/is not eligible for this debt relief cited below, & did not request for it. Nigeria has since got the IMF assistance it is eligible for - the RFI
Meanwhile the news they’re passing off in April 2021 as breaking news is actually one year old. The IMF is simply extending the debt relief it approved for a specific set of countries (Nigeria neither eligible nor in need of it) a year ago.
Newsrooms need to do better.
Newsrooms need to do better.
Nigeria of course now has a $3.4 billion IMF debt, based on the RFI assistance announced end of April 2020.
But this is immaterial to fact that Nigeria was not eligible for IMF debt relief at the time the CCRT was approved.
Look at the dates.
End of thread.
But this is immaterial to fact that Nigeria was not eligible for IMF debt relief at the time the CCRT was approved.
Look at the dates.
End of thread.
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