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The Debt Trap in Nigeria: Towards a Sustainable Debt Strategy.

THE DEBT TRAP IN NIGERIA

TOWARDS A SUSTAINABLE DEBT STRATEGY

Edited by Ngozi Okonjo-Iweala, Charles C Soludo & Mansur Muhtar

[pounds sterling]17.99 Africa World Press

ISBN 1-59221-001-5

Claiming to be the first major study to put the Nigeria's debt into perspective, The Debt Trap in Nigeria is the outcome of a historic conference held in Abuja to debate Nigeria's future in the context of the country's debt overhang.

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Convened by the National Debt Management Office (NDMO), in collaboration with the African Institute for Applied Economics (AIAE) and the UK government's Department for International Development (DfID), the conference was attended by a broad spectrum of national and international participants from the public and private sectors.

The book draws attention to the consensus reached at the conference on the best way forward and the recommendations made to reduce the debt burden, to strengthen institutions for debt and resource management, and for resuming sustainable development. The call is to all involved, Nigerians in general and the international community in particular, to help Nigeria exit the debt trap and refocus its resources on fighting poverty.

The editors bring to this study unparalleled expertise. Ngozi Okonjo-Iweala is a prominent economist, formerly the vice-president and corporate secretary of the World Bank. In 2000 she took a leave of absence from the World Bank to serve as economic advisor to Nigeria's President Obasanjo where she was responsible for helping to rationalise the management of Nigeria's debt through the creation of the NDMO and in September 2003 appointed Nigeria's Finance Minister. Charles C Soludo, executive director of AIAE has consulted extensively for many of the major multilateral development organisations, including the World Bank, IMF, UN agencies and USAid. He has also published extensively on African economic issues. Mansur Muhtar is a senior economist with the Africa Region of the World Bank. Like Okonjo-Iweala, Muhtar has taken leave of absence from the Washington-based institution to work with the Nigerian government as a director of NDMO.
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Title Annotation:Books
Publication:African Business
Article Type:Book Review
Date:Jun 1, 2004
Words:331
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