Helping Africa's Largest Country Shed $30 Billion in Debt
In this two-minute 2006 video clip, CGD’s Todd Moss explains how the Center helped to open the way for Nigeria to obtain $30 billion in debt relief, one of the world’s biggest ever debt deals. Moss tells how CGD research led the World Bank to reclassify Nigeria so it could become eligible for a favorable Paris Club deal. Completion of the deal enabled Nigeria to focus resources on social sector spending and policy efforts on promoting private sector growth and development. Former Nigerian finance minister Ngozi Okonjo-Iwela, and Donald Kaberuka, president of the African Development Bank, praise CGD’s catalytic role. Learn more about CGD’s work on Nigeria debt here.