Word: debts
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Dates: during 1990-1999
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This is all fine and dandy. However, the president's overall message was couched under an umbrella of forgiveness--forgiveness to the tune of $30 billion in national debt. President Obasanjo's argument is that rescheduling loan repayment for young democratic regimes in traumatized countries is not sufficient to guarantee political stability and sustainable development...
...coup in Nigeria. With ambiguities about the future of military institutions in countries such as Nigeria, it would appear that the situation could quickly develop into a blackmail of the global financial assistance system. This is why President Obasanjo's threat to the western world--that if the external debt is not forgiven Nigeria will be forced into a hermit situation to save money--appears to be not so much of a threat...
...economic progress can go hand-in-hand in Nigeria. Perhaps this is true for many other developing countries. President Obasanjo is in a unique position to embark on such a strategy. The idea of pulling Nigerian troops from international missions in order to save money towards the national debt is a brilliant first step that can be taken to disguise the critical issue of reducing the size and power of the military. The international community should support such a plan instead of or as a complement to the somewhat troublesome proposal to forgive the national debt...
...What happens to a generation of law students when they are ready to take a pioneering leap, when they still have a residue of idealism, but are forced to drop it to go work for some huge firm in order to pay off their debt?" Nadar asked...
Dire is right. After a major inventory snafu, Fruit's financial elastic stretched again last month, when it had to make a $45 million interest payment on accumulated debt of $1.3 billion. Its stock, traded at $48 a few years ago, now sells for less than $4. The board, its confidence in Farley shaken, managed to shunt him into the role of nonexecutive chairman in August, and the company is searching for a new CEO. Farley retains a role in large measure because he still controls 28.5% of Fruit's voting shares. He has also arranged for the company...