IMF/World Bank Debt Relief: NLC Makes Case For Nigeria

The Nigeria Labour Congress (NLC) has called on the International Monetary Fund (IMF) and World Bank to include Nigeria in the beneficiary list for the COVID-19 related debt relief and debt moratorium.
Mr Ayuba Wabba, NLC President, made the call in a statement yesterday in Abuja.
According to him, never in living memory has the world faced a twin catastrophe of both health and economic proportions as now.
“The novel Coronavirus disease (COVID-19), which has infected close to two million persons and amassed a death toll of over one hundred thousand precious lives worldwide has also grounded the global economy.
“The result is that many countries are desperately in search of funds to cope with rising health emergencies, especially with regards to the supply of life supporting medical equipment, wears and drugs.
“Even rich countries in Europe and America are struggling to keep up with the supply of essential medical goods and services as COVID-19 bites harder, “ he said.
Wabba noted that the response of the IMF in providing debt relief service to 25 poor countries could not have come at a better time.
He said the IMF at its Executive Board Meeting held on Monday, announced that the gesture channeled through its revamped Catastrophe Containment and Relief Trust (CCRT) was targeted at addressing the impact of the COVID-19 pandemic.