MANAGING EXTERNAL DEBT CRISES IN DEVELOPING COUNTRIES
MANAGING EXTERNAL DEBT CRISES IN DEVELOPING COUNTRIES
| dc.contributor.author | JA'AFARU, IBRAHIM | |
| dc.date.accessioned | 2014-03-12T08:39:25Z | |
| dc.date.available | 2014-03-12T08:39:25Z | |
| dc.date.issued | 1994-06 | |
| dc.description | BEING A PROJECT SUBMITTED TO THE POST-GRADUATE SCHOOL, AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTER OF BUSINESS ADMINISTRATION (MBA) DEGREE DEPARTMENT OF BUSINESS ADMINISTRATION AHMADU BELLO UNIVERSITY ZARIA JUNE, 1994 | en_US |
| dc.description.abstract | The Nigerian economy has undergone considerable strains and stresses since 1981. the pressure has been evident in the persistent deficits in the balance of payments, low external reserves, deficit in government finances, mounting domestic and external debts etcetera. The inherent weakness in the structure of the economy as reflected in the over dependence on foreign exchange earnings from oil and weak terms of trade among others, led to a situation in which Government sought to bridge the domestic financial resource gap with external borrowings. The magnitude and severity of Nigeria's debt problem is demonstrated by the movement of certain debt ratios. At 13.3 percent in 1980, the Debt/Export ratio rose to 404.2 percent in 1986 through 341.0 percent in 1987 and to 241.5 percent in 1991. Similarly, the debt burden as measured by the ratio of debt service/exports of goods and services rose rapidly from 0.7 percent in 1980 through 28.1 percent in 1985 to 25.8 percent in 1991. This ratio would have exceeded 65% since 1985 but for payment default and subsequent debt restructuring and refinancing. In the study, it has been discovered that debt restructuring have not only been complex, protracted and expensive, they have also tended to divert attention from the more important issues of growth and development. It has been revealed that various debt repayment strategies adopted by the Government has not been very effective and the capacity of voluntary market approach to reduce debt is very limited as the period of external debt crises has been associated with little or no economic growth. From the study, one will conclude that debt forgiveness plus uninterrupted flow of resources to least developed countries is the only option available to solve the debt crises as debt repudiation could not be possible because of the interdependence of countries in today's new world economic order | en_US |
| dc.identifier.uri | http://hdl.handle.net/123456789/3764 | |
| dc.language.iso | en | en_US |
| dc.subject | EXTERNAL, | en_US |
| dc.subject | MANAGING, | en_US |
| dc.subject | DEBT CRISES, | en_US |
| dc.subject | DEVELOPING, | en_US |
| dc.subject | COUNTRIES | en_US |
| dc.title | MANAGING EXTERNAL DEBT CRISES IN DEVELOPING COUNTRIES | en_US |
| dc.type | Thesis | en_US |