Minister of Finance, Budget and National Planning, Zainab Ahmed, says the federal government is considering tapping into the newly created fund by the International Monetary Fund, IMF.

Ahmed said this on the sidelines at the ongoing IMF- World Bank meetings on Wednesday in Washington.

The finance minister also said the federal government has been engaging financial institutions to look into the country’s portfolio debt to restructure and further stretch the debt service period to give more fiscal relief.

She said there are signs that the recent flooding in the country would cause more stress to the food system, affecting harvest and prices.

On debt restructuring, Ahmed said the federal government plans to use up to 65 percent of government revenues next year to service debt.

She said the government would also scale back on some tax incentives and expand the tax net to ramp up domestic revenue.