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IMF’s Managing Director Addresses Debt Crisis And Announces Successful Fundraising For Poverty Reduction And Growth Trust
IMF’s Managing Director Addresses Debt Crisis And Announces Successful Fundraising For Poverty Reduction And Growth Trust....KINDLY READ THE FULL STORY HERE▶
During the Fund 2023 Annual Meetings Plenary in Marrakech, Morocco, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, emphasized the IMF’s active involvement in mediating the debt challenges faced by both debtor and creditor countries. Georgieva highlighted that more than half of low-income countries continue to be in or at high risk of debt distress.
Georgieva noted that approximately one-fifth of emerging economies are confronted with “default-like spreads,” indicating that debt restructuring may become the next viable option. She mentioned that “the common framework is starting to deliver on debt restructurings, albeit slowly.
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The IMF remains dedicated to providing a lifeline to countries in need through a “global financial safety net.” Since the onset of the pandemic, the IMF has offered approximately $1 trillion in liquidity and financing, which includes $650 billion in Special Drawing Rights (SDRs) and $320 billion in lending to 96 countries, including 56 low-income nations.
Georgieva expressed that reaching fundraising targets for the Poverty Reduction and Growth Trust (PRGT) is a critical milestone that allows the IMF to support low-income countries with zero-interest rate financing to address their evolving needs.
She noted that zero-interest lending through the PRGT has surged fivefold to around $30 billion, benefiting 56 countries. At present, 30 countries, nearly 45 percent of all PRGT-eligible countries, are part of ongoing PRGT-supported programs, marking the largest share since the inception of the PRGT in 2009.
The cumulative financial commitment to support the PRGT is projected to reach nearly $40 billion by the end of 2024, approximately five times the historical average.
Georgieva emphasized that sustaining the PRGT’s adequate resourcing is essential, given the high demand for concessional financing and increasing need for PRGT subsidy resources due to elevated interest rates.
The IMF is committed to conducting a comprehensive review of the Fund’s Concessional Facilities and Financing to ensure the long-term financing capacity of the PRGT remains on a sustainable footing.
Georgieva expressed confidence that the global community will continue to demonstrate commitment and solidarity in supporting low-income countries as they navigate global challenges and transformational issues.
The 2026 Unified Tertiary Matriculation Examination (UTME) began nationwide on Thursday, with over 2.2 million candidates expected to participate across accredited centres.....KINDLY READ THE FULL STORY HERE▶
The exam, conducted by the Joint Admissions and Matriculation Board (JAMB), will run from April 16 to April 22 in multiple daily sessions.
JAMB Registrar, Prof. Is-haq Oloyede, urged examination officials to remain highly committed and professional, noting that the success of the exercise depends largely on their dedication.
He gave the charge during a virtual final briefing for technical officers ahead of the examination, where he also praised staff, ad hoc personnel, service providers, and technical advisers for their roles in the successful conduct of the mock exam.
Oloyede said many of the issues recorded during the mock exercise were due to poor assessment of centres by some technical officials.
He further stated that incentive packages would be awarded to teams that perform exceptionally, particularly in handling exam materials and submitting timely reports.
Reiterating JAMB’s zero-tolerance stance on malpractice, he warned candidates against bringing prohibited items into examination halls.
He also disclosed that biometric verification and real-time monitoring systems have been deployed to protect the integrity of the exercise.
Candidates whose biometrics cannot be verified, he added, will be rescheduled to write the exam at approved centres.
Meanwhile, a NAN correspondent monitoring proceedings at Aduvie International School, Jahi, reported that the first session scheduled for 8:30 a.m. began slightly behind schedule at about 8:40 a.m.
The Commissioner of Police for the Federal Capital Territory (FCT), CP Ahmed Muhammed Sanusi, on Thursday inspected security deployments at Joint Admissions and Matriculation Board (JAMB) Computer-Based Test (CBT) centres across Abuja.....KINDLY READ THE FULL STORY HERE▶
According to the FCT Police Command spokesperson, SP Josephine Adeh, the inspection is part of proactive measures to ensure a smooth, peaceful, and hitch-free conduct of the ongoing examinations.
The UTME is scheduled to run nationwide from April 16 to 18, 2026.
During the exercise, CP Sanusi assessed security arrangements put in place to safeguard candidates, examination officials, and CBT facilities.
He also engaged with centre supervisors, assuring them of adequate security presence throughout the examination period.
Adeh added that the CP reaffirmed the command’s commitment to maintaining law and order, warning that any attempt to disrupt the examinations would be met with decisive action in line with the law.
Over 700 former terrorists who have undergone deradicalisation and rehabilitation are set to be reintegrated into their communities.....KINDLY READ THE FULL STORY HERE▶
The Nigerian military has also dismissed reports alleging that beneficiaries of Operation Safe Corridor are being recruited into military institutions.
According to African Independent Television, the Coordinator of Operation Safe Corridor, Brigadier-General Yusuf Ali, made this known during a media tour of the Deradicalisation, Rehabilitation and Reintegration Centre in Gombe, North-East Nigeria.
He said many Nigerians still misunderstand the Federal Government’s structured counter-terrorism initiative, which is designed to restore peace in communities affected by insurgency.
Brigadier-General Ali explained that the programme focuses on rehabilitation and peaceful reintegration of repentant individuals into society.
During the tour, some of the participants also shared accounts of their involvement in offences that led to their admission into the programme.
The facility inspection was part of preparations for the graduation of over 700 clients who have completed the deradicalisation and rehabilitation process and are set for reintegration.
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