A Lecturer in Development
of Economics, University of Abuja, Prof. Park Idisi, has advised the Federal Government to scrutinise the terms and conditions attached to IMF loan before  accessing it.
Idisi told newsmen in Abuja that it became imperative for government to critically study the conditions attached to the loans to avoid economy depression.
“If it is zero interest rate as IMF said, it is a good development, but if there are hidden conditions attached or is not in our interest, government should not collect it,’’ he said.
According to him, the intervention is a welcome development to Nigeria at this time it undergoing recession
He said accessing a loan under an interest free rate will help bridge the nation’s infrastructure deficit.
“I know the current government will be able to manage the loan accurately; the loan can be invested into infrastructure development such as rail system, agriculture, steel development.
“Also it can be invested on both social and economic aspects, where result can be seen and projects can pay back the loan in time.
“Even if the loan is two to three years repayment schedule, the rail system can be completed to remove financial pressure from other sectors.
He also called on government to look into areas of quick intervention to invest the loans on some dormant and existing textile industries, as this would create more jobs for the youth.
The Tide gathered that the Managing Director, IMF, Ms Christine Lagarde, disclosed at the recently-concluded IMF/ World Bank 2016 General Meeting in U.S. that it would give developing countries zero interest rate loan.
Lagarde said as prospects for growth in low income countries became more challenging, the International Monetary Fund (IMF) had introduced zero interest rates on all its concessional facilities until 2018.
She said that after the duration (2018), IMF would maintain low interest rates around the world.
The IMF boss also disclosed that the board had agreed to also maintain the overall lending capacity of close to one trillion dollars by extending access to bilateral borrowing agreements.
Minister of Finance, Mrs Kemi Adeosun, also reiterated the country’s plan to get cheap loans to bridge the nation’s infrastructure deficit in critical sectors.
Adeosun said that Nigeria, alongside others with economic challenges, could access long term concessionary facilities from the IMF at zero interest rate.