Publication
Apr 2005
Nigeria has $33 billion in external debt. The government has been trying unsuccessfully for years to cut a deal with creditors to reduce its external obligations but to date has only managed to gain nonconcessional restructuring. The major creditors also have good reasons for wanting to seek a resolution, yet agreement has been elusive. Fortunately, there is a brief window of opportunity in 2005 to find a compromise that can meet the needs of both sides. This note briefly outlines a proposal for striking such a deal through a discounted debt buyback.
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English (PDF, 2 pages, 95 KB) |
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Author | Todd Moss |
Series | CGD Notes |
Publisher | Center for Global Development (CGD) |
Copyright | Creative Commons - Attribution-Noncommercial-No Derivative Works 2.5 Generic |