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NIGERIA TO MAKE FINAL PARIS CLUB DEBT REPAYMENT
Saudi Press Agency Published in Saudi Press Agency on 21 - 04 - 2006

NIGERIA WILL TRANSFER $4.5 BILLION TO PARIS CLUB CREDITORS ON FRIDAY IN A FINAL PAYMENT THAT WILL CLEAR IT OF ALL DEBTS WITH THE RICH-NATION CLUB, THE HEAD OF THE COUNTRY'S DEBT MANAGEMENT OFFICE SAID ON FRIDAY, ACCORDING TO REUTERS.
UNDER AFRICA'S BIGGEST DEBT RELIEF DEAL AGREED LAST JUNE, THE SOVEREIGN CREDITORS WROTE OFF $18 BILLION THEY WERE OWED BY NIGERIA, WHICH IS USING WINDFALL EARNINGS FROM HIGH OIL PRICES TO PAY OFF $12.4 BILLION IN ARREARS AND DEBTS.

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