Vice President, world bank and IMF meet on economic stimulus

The Vice President, Yemi Osinbajo on Tuesday in Abuja held a meeting with representatives of the International Monetary Fund (IMF) and the World Bank via video conference.
The meeting was anchored online from the Presidential Villa, deliberated on how the agencies could collaborate with Nigeria in the planned additional economic stimulus packages to address the effect of COVID-19 pandemic.
The Economic Sustainability Committee (ESC) was set up by President Muhammadu Buhari, on March 30, headed by the vice president to develop an economic sustainability plan until 2023.
The committee was tasked with identifying fiscal and monetary measures to enhance oil and non-oil revenues in order to fund the plan; develop a stimulus package and come up with measures to create more jobs while keeping existing ones.
Buhari had also approved an initial economic stimulus package of N500 billion.
The ESC had expressed optimism that with the plans it had drawn, Nigeria would be able to return to positive growth by next year..
The global economy is expected to go into recession in 2020 while the IMF has predicted that Nigeria will go into recession to a level of negative 3.4 per cent.