It is the most effective form of revenue generation for the government. The Nigeria Liquefied Natural Gas (NLNG) Limited has proved to be Nigeria’s foremost cash cow as it paid the Federal Government dividends in excess of N63.2billion in the 2020 financial year. Similarly, states with highest bus journey fare intercity were Abuja FCT (N4,415.73), Sokoto (N3,255.20), and Lagos (N3,250.60) while states with lowest bus journey fare within city were Bayelsa (N1,550.73), Bauchi (N1,600.70), and Akwa Ibom (N1,700.54). The lender through a statement revealed that after holding a virtual meeting with government officials for three weeks, it was agreed that there were key principles why the country needed the bail out. According to her, the package of measures endorsed as part of the quota review approved by the Board of Governors in February preserved the fund’s financial firepower. “These measures include the doubling of the New Arrangements to Borrow and a new round of bilateral borrowing arrangements, which are expected to become effective in January 2021. Total Financial Assistance for 83 Countries: Japanese yen, pound sterling, and US dollar) reviewed by IMF every five years. 1st Tranche: SDR 183.13 million / US$ 251.24 million 3 SDR 76,407.44 million / US$ 105,482.91 million 3, Augmentation of Flexible Credit Line (FCL), Total Debt Relief for 29 Countries: 1 This figure corresponds to all payments, including interests and charges, due to the IMF from the countries included in the debt relief initiative for the remainder of 2020. In the USA trains are not cheap, but in general terms they are cheaper than a plane especially when it comes to short distances. This background article explains how IMF lending works and sets out the differences between the main types of IMF lending. But that’s not the case in the US. The Fund said this in its 2020 IMF Annual Report titled “A Year Like No Other”, released in Washington D.C on Monday. Also, states with highest air fare were Anambra (N38,700.00), Lagos (N38,550.00), Cross River (N38,500.00), while states with lowest air fare were Akwa Ibom (N32,600.00), Sokoto (N33,500.00), and Gombe (N34,750.00). Here are some of the reasons that you need to consider taking a train to your next destination. The average fare paid by commuters for journey by motorcycle per drop increased by 6.14 per cent month-on-month and by 124.73 per cent year-on-year to N293.36 in December, 2020 from N276.38 in November, 2020. Well, there are moments whereby air travels will face its own ups and downs. PM Diab says Lebanon will also try to secure $11bn in funding previously pledged by donor countries. The National Bureau of Statistics (NBS) says commuters for a bus journey and other means of transport within and out the city increased in December, 2020. The IMF had set up the rapid financing instrument in 2011 as a one-time, short-term loan aimed at helping low-income countries absorb shocks like natural disasters. She noted that national governments took bold steps to save lives and put a floor under the world economy, with nearly $12 trillion in fiscal actions and about $7.5 trillion in monetary actions. This page provides an overview of assistance approved by the IMF’s Executive Board since late March 2020 under its various lending facilities and debt service relief financed by the Catastrophe Containment and Relief Trust (CCRT). Published in Dawn, November 19th, 2020 Advertisement Overall, the IMF is currently making about $250 billion, a quarter of its $1 trillion lending capacity, available to member countries. The International Monetary Fund (IMF), says it loaned 83 countries the sum of $165 billion dollars, including $16.1 billion dollars in concessional financing to 49 low-income countries in FY2020. All rights reserved. In her message in the report, the IMF Managing Director, Kristalina Georgieva, said as the world faced a crisis like no other in 2020, the IMF and its members swung into action. Train rides are smooth sailing, the seats are roomy enough for you to sit, relax and enjoy your journey. Hover over highlighted countries to see details. Nevertheless, children under 2 years old ride for free whereas kids from 2 to 15 years will ride half price. The bureau disclosed this in its monthly Fare Watch report for December, 2020, published on its website, yesterday. Debt campaigners are calling for the International Monetary Fund to sell some of its stockpile of gold to cover the debt payments owed by the world’s poorest countries for … Interest rates not as high as 9 to 10% Campaigners Urge IMF to Sell Gold to Provide Debt Relief. SDR is used by the member countries to repay their debts. Ms Georgieva said interventions were providing low-income members with much-needed debt relief, extended until April 2021, and concessional lending, including about 10 times more such lendings, since the crisis hit than it usually disbursed in a year. The Minister of Finance, Dr Zainab Ahmed, disclosed this during a presentation of her ministry’s Budget Implementation Report for January to December, 2020 fiscal period. Globally, it ranks fifth among the countries […] “ The Ministry of Finance, in the framework of the loan and management program of the public debt portfolio for 2021, has started the process for a new early repayment, in the near future, amounting to approximately 3.6 billion euros, from the existing loans it has the country from the International Monetary Fund (IMF). Jubilee Debt Campaign UK has an estimate for interest payments due to the IMF for the next 6 months. States with highest journey fare by motorcycle per drop were Niger (N1,575.70), Yobe (N397.45) and Imo (N397.42), while states with lowest journey fare by motorcycle per drop were Adamawa (N80.40), Katsina (N130.25) and Kebbi (N146.25). First the country has to submit a letter of intent , specifying its economic plan to recover and repay the IMF loan. The Federal Government’s projected revenue of N5.36trillion for 2020 witnessed a shortfall of N1.4trillion or 27 per cent for the year as it only received N3.9trillion in revenues. 83 Countries Benefit from IMF $165 loans in 2020 -Report. States with the highest fare by waterway passenger transport were Delta (N2,300.35), Bayelsa (N2,240.00) and Rivers (N2,200.00), while states with the lowest fare by waterway passenger transport were Borno (N240.73), Gombe (N293.24) and Kebbi (N349.64). The company is located in Bonny Island and has six trains with a total capacity to process 22 million tonnes of LNG a year and as much as 5 million tonnes of natural gas liquids. As of April 2020, 68 countries were eligible only for IBRD loans and 14 of those were in Africa. The IMF considers country-specific features of financial systems and tailors its analysis to the needs of each member participating in the program. The region is struggling with budget deficits and sluggish economic growth as a result of the drop in oil prices and ongoing conflict with ISIL. By Larry Elliott The Guardian, London Sunday, October 11, 2020. 83 countries have benefited from the sum of $165 billion loans granted by the fund The IMF Press Center is a password-protected site for working journalists. In some countries trains are very cheap. The International Monetary Fund recently rejected a proposed new tool that would have offered countries pandemic loans with looser conditions … This offers the best sanity any passenger would love to have. But you will never see such at train stations. The facility places emphasis on the country’s poverty reduction and growth objectives, according to the IMF. Trains can actually get you everywhere, the only thing is that they can’t cross oceans and most remote areas don’t have access to trans. As on May 31, 2015, the value of one SDR in dollar terms stood at 1.390500, valuing the total amount due from the borrowing countries at $84.57 billion. Kenya is seeking a loan of as much as $2.3 billion from the International Monetary Fund under the lender’s extended fund facility. The International Monetary Fund (IMF) says it loaned 83 countries the sum of $165 billion including $16.1 billion in concessional financing to 49 low-income countries in 2020. The amount a country can requested is restricted to 100% of the country’s quota at the IMF—about $5 billion in Venezuela’s case—and is supposed to be less comprehensive than traditional loans. The dividend received from the Nigeria LNG served as a major bright spot in the government’s revenue performance for the year. She added that the Fund’s response was comprehensive, supporting both members that entered the crisis with vulnerabilities, such as high debt, and those that had good fundamentals but needed buffers. 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