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Multimedia
November 17, 2011
In this two-minute 2006 video clip, CGD’s Todd Moss explains how the Center helped to open the way for Nigeria to obtain $30 billion in debt relief, one of the world’s biggest ever debt deals. Moss tells how CGD research led the World Bank to reclassify Nigeria so it could become eligible fo...
January 14, 2010
On April 21 Nigeria took final steps to pay off about $30 billion in accumulated debt for about $12 billion-an overall discount of about 60 percent-using foreign reserves from soaring oil prices. Nigeria had racked up arrears during decades of military rule and the debt was seen as a major barrier t...
New from CGD
July 10, 2006
As leaders from the world's most powerful nations prepare to gather in St. Petersburg, Russia, this weekend, observers with even a modicum of memory could be forgiven for wondering whether the leaders suffer from Attention Deficit Disorder. After all, it was only one year ago that G-8 leaders met in...
WORKING PAPERS
May 26, 2006
The Multilateral Debt Relief Initiative (MDRI), the latest phase of debt reduction for poor countries from the World Bank, the IMF, and the African Development Bank, will come close to full debt reduction for at least 19 and perhaps as many as 40 countries. Debt relief proponents see it as a momento...
BRIEFS
September 12, 2005
Many poor countries, especially in Africa, will miss the MDGs by a large margin. But neither African inaction nor a lack of aid will necessarily be the reason. Instead, responsibility for near-certain ‘failure’ lies with the overly-ambitious goals themselves and unrealistic expectations placed on ai...
CGD NOTES
August 03, 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 reso...
BRIEFS
July 13, 2005
Although nearly all poor countries are classified by the World Bank as IDA-only, Nigeria stands out as a notable exception. Indeed, Africa’s most populous country is the poorest country in the world that is not classified as IDA-only. Under the World Bank’s own criteria, however, Nigeria has a stron...