Africa - last in the queue for help from the world, as usual
From Prof Jeffrey D. Sachs.
Sir, Regarding the creditor agreement to an 80 per cent debt forgiveness for Iraq ("Iraq debt agreement ends stand-off" November 22), it would be unconscionable for Paris Club creditors to grant debt cancellation to Iraq without simultaneously extending debt cancellation to Nigeria.
Like Iraq, Nigeria is a debt-ridden, oil-exporting country struggling to consolidate democracy following a long period of dictatorship.
Nigeria's need for debt cancellation is dramatic. While Iraq's life expectancy is 68 years, Nigeria's is 51 years. While infant mortality in Iraq is 52 out of every 1,000 births, Nigeria's infant mortality rate is 110 out of every 1,000 births. Nigeria's extreme poverty reflects in part the fact that its oil export earnings per person are roughly one-sixth of Iraq's.
Nigeria's creditors continue to drain the government and people of budget funds vitally needed to save lives and re-establish economic growth. President Olesegun Obasanjo has made this point for years. The neglect of Nigeria's urgent needs by its creditors comes despite its remarkable recent progress in re-establishing democratic institutions, fighting corruption and reforming the economy. As usual, Africa comes last in the queue for help from the world.
Jeffrey D. Sachs, Director, Earth Institute, Columbia University, New York, NY 10017, US