Resolving Nigeria's Debt Through a Discounted Buyback
Publication Info
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Initiative
Research Topics
CGD Expert
Opinions
- Nigerian Debt Relief Now a Done Deal: Q&A with Todd Moss
- Q & A: Nigerian Debt Relief
- Reflections on "Our Common Interest," The Report of the Commission on Africa
- A buyback to resolve Nigeria's debt problem
Articles
- A Victory for Democracy in Nigeria
- Nigeria Completes PC Pre-payment
- Clean slate [Economist]
- Nigeria in Deal to Pay Off Most of Its Foreign Debt [NYT]
- IMF endorses Nigeria policies in nod to Paris Club
- Nigeria Wins Debt Relief
- Nigeria- Time to Cut a Debt Deal
- Nigeria in talks for $31 bln debt buyback
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Todd Moss
04/01/2005
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 non-concessional 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.