The Ministry of Budget and National Planning has explained that the Federal Government is not looking to source any loan from the International Monetary Fund (IMF), as reported by a national newspaper on Friday.

Akpandem James, Media Adviser to the Budget and National Planning Minister, said: |While briefing a French delegation that visited him in Abuja on Thursday, on what the Federal Government was doing to drive revenue for its activities, the Minister, Senator Udoma Udo Udoma, explained generally that government was exploring both internal and external sources, but emphasised that in the case of external sources, government would only be looking at institutions that can give concessionary terms.

“Throughout the statement issued by the ministry on the visit, which was not covered by any media organisation, no mention was made of any specific loan from any institution.

“The Federal Government does not have need to go to the IMF for any loan at this time.”

•Photo shows Udo Udoma.

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