₦airaland Forum

With $36billion in external debt, 100million people living on less than a dollar a day, Nigeria should have been a strong candidate for debt relief programs. In early 2004, a US researcher, think-tank and negotiator known as Center for Global Develoment(CGD) began working on Nigeria's debt issues to provide analytical support to Nigeria's ongoing effforts to persuade its creditors to agree to an appropriate debt relief package.
In Oct. 2005, Nigeria and the Paris club announced a final agreement for debt relief worth $18billion and an overall reduction of Nigeria's debt stock by $30billion. The deal was completed on April 21, 2006 when Nigeria made its final payment and the books were cleared of any Paris club debt.
According to Todd Moss, the team leader for CGD who worked on Nigeria's debt talked about the two major factors that were involved; (1). the negotiators helped to reclassify Nigeria as an "IDA-only"country within the bank- a pre requisite for debt relief.

CONT;
(2). The negotiator's innovative ability to resolve Nigeria's debt through a discounted buyback.
This resulted in success and in June 2005, a change in status was announced which enabled Pari club negotiation to begin in earnest.
The efforts of CGD led by Todd Moss has been recognized by participants in the negotiations and by major media.
According to Ngozi Okonjo Iweala, she said" Your catalytic work and analysis made a difference.. especially the work of CGD in facilitating the reclassification of Nigeria as an IDA-only country as well as putting forward an innovative solution to the debt problem.
Also, ANN PETTIFOR, Co-founder, Jubilee 2000 and Director of Advocacy Information, said" CGD has played a critically important role.. i have it first hand from negotiators in the Paris club that it was the CGD concept of a buyback that was the tipping point that led creditors to agree debt relief for Nigeria. This is a great achievement for all concerned and in no small part due to the work of CGD"

CONT;
HOW IT ALL STARTED:
CGD submitted a working paper TITLED; Debt treatment and World Bank Country Classification: The Case Of Nigeria. At the time, the World Bank had classified Nigeria as a "blend" country, making it the poorest countqy in the world that does not have "IDA-only" status. It went ahead to use the World Bank own IDA eligibility criteria to asses whether Nigeria has a case for reclassification.
The paper was able to prove based on key analysis Nigeria's eligibility for reclassification. It argued that Nigeria met the criteria for reclassification from being a "non IDA" status to an "IDA" status. The paper also questioned the criterion which appeared to have included three African comparator groups, including the IDA-only oil producer(Angola's status) which suggested that Nigeria was facing a double-standard.
It was this paper work that prompted the OBJ led FG into action. At the Davos World Economic Forum 2004, FG team led by NOI met with Nancy Birdsall, President CGD.

After the meeting with Nancy, negotiation for debt relief began in 2005. CGD helped facilitate Nigeria's debt relief. The notion that Ngozi facilitated Nigeria's debt relief is wrong.

Fn- IDA stands for International Development Association which is part of World Bank, it is the major provider of funds towards economic and development projects in the world's poorest nations.

Naptu2

Dumbass

Fact-checked by an Agb.ado clueless trìbalistic, Fraudulent, ignorant ethnocentric tribe.

People give too much underserving credits to Okonjo iweala. You see them boasting of WTO as if she got there by herself.

saintfieldcastro:
Fact-checked by an Agb.ado clueless trìbalistic, Fraudulent, ignorant ethnocentric tribe.

What is tribalistic about what the facts of the OP?. The people with you guys is that you hate the truth. i, myself was suprised when i did a quick search on Google about those things OP stated, i never knew before. Read and learn.

Putindbutt:
People give too much underserving credits to Okonjo iweala. You see them boasting of WTO as if she got there by herself.

Enough reason you should commit suicide

Make una continue dey rewrite history, na una go tire.

manutdrichie:
Enough reason you should commit suicide

Go and kill yourself if the truth hurts you. Okonjo iweala is overrated.

Putindbutt:
Go and kill yourself if the truth hurts you. Okonjo iweala is overrated.

We know Okonjo Iweala, who's your mother?

Putindbutt:
People give too much underserving credits to Okonjo iweala. You see them boasting of WTO as if she got there by herself.

don’t mind them

The same woman that requested to b paid in dollars as finance minister

The same woman who said it live n clear in a broadcast that Nigerians should brace for hardship

Only all these nonentities who call themselves gen z can praise that woman

HenryTimes:
Make una continue dey rewrite history, na una go tire.

Google CGD and their role in Nigeria's debt relief. The facts would stare you in the face.

That is the hypocrisy of the igbos you are seeing vividly. A finance minister in Nigeria de influence World Bank to do her bidding, I do not even understand the relationship.

The president is not giving the cr sit but a minister that was borrowing to pay salary is who went to write Nigeria debt off.

Hatred & jealousy is an incurable disease

chiagozien:
We know Okonjo Iweala, who's your mother?

U are igbo

So no one expects sense from u

Pakute:
Google CGD and their role in Nigeria's debt relief. The facts would stare you in the face.

This news is a shocker to me.

Google Ngozi Okonlo-Iwela and her role in Nigeria's debt relief and see for yourself.

Ngozi is still alive, Obasanjo is still alive, you can visit them if you care to know more.

Pakute:
Google CGD and their role in Nigeria's debt relief. The facts would stare you in the face.

chiagozien:
We know Okonjo Iweala, who's your mother?

My mother is not sucking the balls of her western masters as Okonjo is doing.

Goodnewsforlife:
don’t mind them

The same woman that requested to b paid in dollars as finance minister

The same woman who said it live n clear in a broadcast that Nigerians should brace for hardship

Only all these nonentities who call themselves gen z can praise that woman

That woman was borrowing to pay salaries, imagine being paid in dollars and supervised Dasuki gate. She's a crook.

Putindbutt:
That woman was borrowing to pay salaries, imagine being paid in dollars and supervised Dasuki gate. She's a crook.

but we must always praise her cos she’s igbo

Putindbutt:
My mother is not sucking the balls of her western masters as Okonjo is doing.

Who's your mother sucking?

Putindbutt:
That woman was borrowing to pay salaries, imagine being paid in dollars and supervised Dasuki gate. She's a crook.

imagine this

Many of those idiots defending her were still in d womb then but they want to argue today

DatNiggaDaz:
Hatred & jealousy is an incurable disease

Hatred and jealousy for who?, for peasants?

Goodnewsforlife:
U are igbo

So no one expects sense from u

Show me one person with sense from your tribe?

Putindbutt:
This news is a shocker to me.

Me too, i was reading up on Nigeria's debt profile and this information popped up. It is a big secret they've been hiding from us.

HenryTimes:
Google Ngozi Okonlo-Iwela and her role in Nigeria's debt relief and see for yourself.

Ngozi is still alive, Obasanjo is still alive, you can visit them if you care to know more.

I have told you the role of CGD in Nigeria's debt relief, you can as well tell us the role of Okonjo Iweala in Nigeria's debt relief, aside taking glory for what she didn't derserve.

chiagozien:
Show me one person with sense from your tribe?

a tribe that believe trump will come n conduct referendum in Nigeria

A tribe that believes buhari was cloned or buried n replaced with jubril

A tribe that believes one mad man will go n bring buhari head in Abuja

A tribe that believe killing security operatives will give them their country

A tribe of block heads

Ballmer:
That is the hypocrisy of the igbos you are seeing vividly. A finance minister in Nigeria de influence World Bank to do her bidding, I do not even understand the relationship.

The president is not giving the cr sit but a minister that was borrowing to pay salary is who went to write Nigeria debt off.

Me sef dey wonder o. They won't give credit to OBJ who put the resources together and paid the $18billion discounted amount BUT these clownish ipobs would rather give credit to Ngozi who did nothing than sat at the back seat during the negotiation.

Pakute:
With $36billion in external debt, 100million people living on less than a dollar a day, Nigeria should have been a strong candidate for debt relief programs. In early 2004, a US researcher, think-ank and negotiator known as Center for Global Develoment(CGD) began working on Nigeria's debt issues to provide analytical support to Nigeria's ongoing effforts to persuade its creditors to agree to an appropriate debt relief package.
In Oct. 2005, Nigeria and the Paris club announced a final agreement for debt relief worth $18billion and an overall reduction of Nigeria's debt stock by $30billion. The deal was completed on April 21, 2006 when Nigeria made its final payment and the books were cleared of any Paris club debt.
According to Todd Moss, the team leader for CGD who worked on Nigeria's debt talked about the two major factors that were involved; (1). the negotiators helped to reclassify Nigeria as an "IDA-only"country within the bank- a pre requisite for debt relief.

your shameless country have accumulated another dept. When are you going to employ another researcher to negotiate for another dept relief. Mumu man from a shameless country.