The Managing Director of the International Monetary Fund, Christine Lagarde, has said that contrary to widespread perception, she was not in Nigeria to negotiate a loan for the country.

“I am not here to negotiate loan with conditionalities because Nigeria does not need a new IMF programme,” the IMF chief said.

Ms. Lagarde, who addressed a press conference at the State House, Abuja, said she had a fruitful discussion with President Muhammadu Buhari on the state of the Nigerian economy in the light of dwindling oil prices.

She said she also discussed how Nigeria could face the challenges associated with global economic downturn.

She said her meeting with the president also dwelled on Mr. Buhari’s fight against corruption and his commitment to transparency and accountability in governance.

Ms. Lagarde said the IMF considers Nigeria a key player in global financial structure, adding that ongoing reforms in the country would definitely have a great impact on Nigeria’s neighbours.

More to come …

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