Cablegate: Nigeria Close to Concluding Bilateral Debt

This record is a partial extract of the original cable. The full text of the original cable is not available.

UNCLAS ABUJA 002332

SIPDIS

SENSITIVE

E.O. 12958: N/A
TAGS: ECON EFIN NI
SUBJECT: NIGERIA CLOSE TO CONCLUDING BILATERAL DEBT
RESCHEDULING AGREEMENTS WITH DUTCH AND GERMANS

REF: A. ABUJA 1375
B. ABUJA 1528
C. ABUJA 1914
D. ABUJA 2073

Sensitive but Unclassified, please protect accordingly.

In conversations September 13 and 14 with Economic Officers
of the German and Dutch Missions in Nigeria, EconOff was
informed that both Germany and the Netherlands have finalized
the terms of the bilateral debt rescheduling agreements,
which are now waiting signature. The agreement specifics are
not known at Post, except that the Germany-Nigeria agreement
reportedly includes a fixed interest rate of 5.3 percent and
a grace period (without accrual of interest) of 30 days on
overdue payments.
Andrews

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