TOWARDS THE REDUCTION OF NIGERIA'S DEBT BURDEN - THE ROLE OF DEBT CONVERSION SCHEME
TOWARDS THE REDUCTION OF NIGERIA'S DEBT BURDEN - THE ROLE OF DEBT CONVERSION SCHEME
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Date
1998-11
Authors
GAZI, RUTH,
NANLE
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Abstract
A B S T R A C T
The world economic trend of rising prices of
consumer goods, falling commodity prices and
increasing debt especially as it affects developing
countries, has attracted considerable attention and
action from experts in various fields.
Many measures have been adopted to ensure
stability in world finance. These measures have
worsened the financial position of many countries like
Nigeria.
The current debt crisis faced by Nigeria
emanates from our disregard for information when made
available, aversion to making projections of whatever
data is at our disposal and an uncanny desire for an
event to occur before solutions are sought.
The debt conversion programme has been
embarked upon by many nations with nothing as regards
success to show for it, Though Nigeria's debt is
small when compared to some Latin American countries.
It has been found that the extent to which debt
conversion has reduced the nation's external debt has
not been appreciable enough to make it a worthwhile
venture.
I am therefore submitting here that the debts
should be cancelled on the basis of the aurgument made
above. As such, all avenue for arriving at such an
option, should be sought by the government.
Description
DEPARTMENT OF BUSINESS ADMINISTRATION
INSTITUTE OF ADMINISTRATION
AHMADU BELLO UNIVERSITY
ZARIA
Keywords
TOWARDS,, REDUCTION,, NIGERIA'S,, DEBT,, URDEN,, ROLE,, EBT,, CONVERSION,, SCHEME