The International Monetary Fund, IMF, on Wednesday, called on the President Muhamadu Buhari to roll out more fiscal support to fight the Coronavirus (COVID-19) pandemic.
Making this call during a press briefing to unveil the IMF Regional Economic Outlook for Sub Saharan Africa, at the ongoing World Bank/IMF Spring Meeting, Washington, United States, the Director, Africa, IMF Africa Department, Abebe Aemro Selassie, stated that the medium-term focus for Nigerian government is revenue mobilisation
“The immediate focus now should be how to deploy resources to combat the COVID-19 pandemic.
“In the near term, no amount of resources should be spent in putting behind the health crises that Nigeria faces from COVID-19 pandemic. So we see scope for more support of policies.
“In the fiscal side, Nigeria has requested for more support under the Rapid Financing Instrument. This is a quick dispensing resource that government can use to strengthen health spending, to provide social support to people.
“There is also scope for having the monetary/exchange rate policy framework that will be supportive of the fiscal stance. So we look forward to those policies to be adopted to support Nigeria put this crisis behind it.”