The politics of Nigeria's external debt crisis
Keywords:
External debt, politics, indebtedness,, debt management, debt servicing,, NigeriaSynopsis
This study 1s en the pQlitics of Nigeria's External Debt Crisis.• Despite the efforts of government to manage it, Nigeria•s external debt crisis ersists and intensifies. The cat1ses 0f the we>rsening externill de'bt. crisis, are related to the collaboration f the Nigerian dcminamt class with the creditors te maximize their expleitatiom sf the Nigerian w0rking peoples.
As a result ef th,i. s collilbœratien the debt milnagement · strategies iid4i>pted are but mere palliaïf ves whicb inrnically, serve the interest of t.hè crecii tœrs and n0t surpristt)11gly w0rsen the crises. The interests of the werking peoples are hardly put int0 seriGus considerati@n in the chsice 0f :debt man«gement strategies. The positien aèœpted by the contending social f©rces on strategies f0r managing tme matien•s external debt are designed te ensure that their respective interests are pr@tecteà. The
heat and pressure generated by the deminated classas i' result ®f the gr@win9°èebt burden have ferced the government t• ad0pt am. persistently ask f® /d 6t fergiveness. rhis gees t© underscc,re the fact ittilit altheugh the balance ef ferces weighed and faveur @f the/1èred'i t0r/governmemt,
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Published
July 6, 2023
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