The Minister of Finance and National Planning, Zainab Ahmed says the Federal Government is not seeking debt restructuring from global financial institutions but extension of repayment period and possible bond buy back.

The Minister of Finance, Ahmed stated this during the Debate on the Global Economy held on the sidelines of the ongoing Annual Meetings of the World Bank and IMF.

The Minister stated this in clarification of earlier comments in a media interview indicating that the Federal Government is seeking debt restructuring from the financial institutions like the World Bank and the International Monetary Fund (IMF).

Earlier, the World Bank said Nigeria has not requested debt restructuring from international financial institutions as allowed under the Common Framework for debt treatment, beyond the Debt Service Suspension Initiative.

World Bank President, David Malpass, stated this in Washington, at his opening press briefing of the ongoing annual meetings of the World Bank and IMF.