• Nigeria, others can borrow at zero interest – IMF

    Nigeria, others can borrow at zero interest – IMF

    According to reports, the Executive Board of the International Monetary Fund (IMF), has approved a modification in the mechanism governing interest rate, setting of Poverty Reduction and Growth Trust (PRGT) facilities and set the interest rates to zero on all its concessional loans under the PRGT for Nigeria and other Low Income Countries (LICs) over the next two years ending December 2018.

    This means that Nigeria can now borrow at zero interest rate to support its social safety net and poverty […]