Word: nigerias
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...loans from private banks and increased lending by major governments and the International Monetary Fund has rescued Mexico, Brazil and other developing nations from default. Nonetheless, frightening risks remain. If, for example, the price of oil were to drop rapidly, debt-laden oil-producing countries such as Mexico and Nigeria would face a financial crunch. Said Greenspan: "There might be a financial run on those countries. Lenders could pull their money out and blow a hole in the system." De Vries suggested that existing international agencies like the World Bank may have to be restructured to give them the power...
After recession took hold around the world and global trade slumped, interest rates began at last to decline. Even so, many countries found themselves increasingly strapped for dollars with which to pay their mountainous debts. Among the most surprising victims were a number of oil-exporting nations: Mexico and Nigeria, to name two. Two years ago, the 13-nation OPEC oil cartel gloatingly held the world at ransom for crude oil at prices that eventually exceeded $40 per bbl. But the combination of recession and conservation caused prices to weaken, and by year's end the price of crude...
Worse, financial experts like Rimmer de Vries, chief international economist for Morgan Guaranty Trust Co., are worried that a further slump in prices would gravely aggravate the already large financial problems of such debt-ridden oil-exporting nations as Mexico and Nigeria. Together, the two nations have borrowed at least $90 billion from foreign lenders. A gentle price decline, as opposed to a nosedive, would not be disastrous, since lower oil prices translate into lower worldwide inflation and thus lower interest rates for debtors...
...been estimated that merely maintaining current wood fuel consumption levels in developing countries would require planting at least 125 million acres of new forest. And that figure does not include timber needed for industrial purposes. Angola, Nigeria, Zimbabwe and several other nations have already begun ambitious reforestation programs, by 1985. Nigeria plans to have doubled the amount of forest acres it had in 1980. In Zambia, new agricultural techniques have resulted in fantastic growth rates of 10 to 15 feet a year...
...control the United Nations. A study prepared by a U.N. group last year criticized the IMF, a special finance agency of the U.N., for giving South Africa a disproportionate amount of aid, used to maintain the apartheid state and finance its arms buildup. The report points out that Nigeria last year made a net contribution to the IMF of nearly $600 million, while South Africa had a net debt of $10 million. Unlike similar U.N. documents, the study was not published and translated as an official report. When asked why the study received such a small and delayed distribution...