The Nigerian economy faces enormous challenges. Nigeria's budget deficit reached 4.9% of GDP in 2002 and its economy shrank by 0.9%.

East-West Debt can offer attractive financial solutions for solving non-performing trade and bank debts in Nigeria

East West Debt, solving defaulted trade and bank debt

East-West Debt march 2003 news, update : NIGERIA

We are pleased to present another issue of East-West Debt news update on the debt situation in the world. International events influence the solutions for solving overdue trade and bank debts. East-West Debt can offer our readers attractive financial solutions for solving non-performing trade and bank debts ...

... thanks to the expertise of our international network of experts. East-West Debt is an international financial company specialised in the recovery of overdue debt. To be successful to our clients, we give the highest priority to attractive creativity, quality and integrity for solving overdue debts in high risk countries.

East-West Debt offers financial solutions to multi-nationals, banks, governments, and insurance companies in solving overdue debts in high-risk countries in:

Africa,

the Middle East,

Eastern Europe,

Latin America,

South-East Asia.

For solving overdue debts, East-West Debt is using the following solutions:

debt equity swaps

debt for counter-trade

debt for debt swaps

debt collection

international litigation

debt recovery

defaulted emerging market debt

Nigeria

The Nigerian economy faces enormous challenges. Nigeria's budget deficit reached 4.9% of GDP in 2002 and its economy shrank by 0.9%. To make matters worse, Nigeria pulled out of a monitoring program with the IMF in March 2002 after the IMF advised the government to curb spending.

In order to meet enormous challenges, it will be critical for Nigeria to strengthen economic policies, avoid macroeconomic instability, and contain the fiscal deficit in the period to The present value of long- the upcoming elections in April 2003. The Central Bank also has to stand ready to tighten the monetary policy.

Additionally, Nigeria needs to prepare the way for a medium-term debt restructuring. The IMF is concerned about Nigeria's build up of arrears to bilateral official creditors and urges the government to make timely debt payments and to conclude Paris Club bilateral agreements with no further delay. There are a few bright spots in the Nigerian economy though.

Progress has been noted in privatization, which still requires more transparency and less political interference, and in the exchange rate policy, which is now becoming market-oriented. A big step ahead is the creation of a firm institution network and the implementation of various legal reforms. Another positive sign is a pick-up in non-oil economic growth. Although the economy contracted 0.9% in 2002, non-oil real gross domestic product grew by 5.3%.

ALGERIA ARGENTINA BRAZIL EGYPT
INDONESIA IRAN IRAQ CONGO NIGERIA PAKISTAN TURKEY UKRAINE SAUDI-ARABIA AZERBAIJAN

East-West Debt has made every effort to ensure the accuracy of this publication. Neither the company nor any contributor can accept any responsibility for -including but not limited to- errors, omissions, opinions or advice given. This publication is not a substitute for professional advice and all information is for guidance only.