International Monetary Fund: Board of Governors Approve $3.35 Billion To Nigeria As SDRs.

 International Monetary Fund: Board of Governors Approve $3.35 Billion To Nigeria As SDRs.

The Board of Governors of the International Monetary Fund (IMF) has approved the allocation of $3.35 billion to Nigeria as part of a historic general allocation of special drawing rights (SDRs) of the International Multilateral Institution.

This is a result of the approval of a general allocation of about SDR456 billion, an equivalent of $650 billion, by the IMF Board of Governors.

This was disclosed in a statement issued by the IMF on Tuesday, August 3, 2021 saying that Nigeria will be allocated $3.35 billion out of the funds.

The allocation was aimed at boosting global liquidity at a time when the world is grappling with the coronavirus pandemic.

TINU

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