Ngozi Okonjo-Iweala, Director-General of the World Trade Organization and former Nigerian Minister of Finance, has categorically denied claims made by Simon Ekpa regarding a $57.5 billion IMF loan to support the Biafran government. This alleged loan has been widely reported, but Okonjo-Iweala’s statement sets the record straight.
misinformation circulating about the IMF’s involvement in financing separatist movements,” Okonjo-Iweala stated. “As a respected global leader, I must emphasize that the IMF’s purpose is to promote international monetary cooperation, exchange rate stability, and economic growth, not to fuel divisive agendas.”
The International Monetary Fund (IMF) has not announced any such loan, and its primary focus remains on supporting member countries’ economic stability and growth ¹. Okonjo-Iweala’s denial reaffirms the IMF’s commitment to its core objectives.
Background on the IMF’s Role
The IMF provides financial assistance to countries facing economic challenges, but its loans come with strict conditions to ensure fiscal responsibility and structural reforms. The organization’s primary goal is to maintain global economic stability, not to support separatist movements.
In recent years, the IMF has provided financial assistance to various countries, including Nigeria, to address economic challenges. However, these loans are designed to support economic reforms, not to fund separatist agendas.
Okonjo-Iweala’s statement puts to rest speculation about the IMF’s alleged involvement in financing the Biafran government. As a respected global leader, her denial carries significant weight, reaffirming the IMF’s commitment to its core objectives.
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