This record is a partial extract of the original cable. The full text of the original cable is not available.
UNCLAS ABUJA 002338
SIPDIS
TREASURY FOR SONAL SHAH
E.O. 12958: N/A
TAGS: ECON EFIN NI
SUBJECT: NIGERIA: GON PLANS TO VISIT IMF AND TREASURY IN
WASHINGTON
REF: ABUJA 2301
1. EconOff received a call September 18 from Debt Management
Office Director-General A.S. Arikawe. Arikawe said that he
and Minister of Finance Ciroma expect to travel soon to
Washington despite the postponed IMF/World Bank annual
meetings. In particular, Arikawe said, the Minister would
like to meet with IMF officials to discuss the Stand-by
Arrangement (in light of IMF team's review reported in
Reftel). Arikawe commented, "the SBA does not look good, and
if the SBA does not hold, than the Paris Club debt
rescheduling would also not hold."
2. Arikawe requested, therefore, meetings with U.S. Treasury
officials in order to discuss Nigeria's 2002 debt obligations
in the eventuality that the IMF program is terminated. He
said that without a rescheduling, Nigeria would owe USD 2.5
billion in 2002, which "would not be possible." Arikawe
commented that he would also contact the other major players
in the Paris Club in regards to organizing a meeting between
the GON and Paris Club.
Andrews