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France pledges to help tackle foreign debt

    ABIDJAN

    Prime Minister Lionel Jospin told President Olusegun Obasanjo on Monday that France would help Nigeria alleviate its massive foreign debt, AFP reported.

    "France is trying to convince the International Monetary Fund and the Paris Club of creditor nations that a mutually agreeable solution must be found," AFP reported Jospin as telling Obasanjo during a lunch meeting in Paris.

    Obasanjo, who is due to end an official visit to France on Wednesday, said on Sunday that he would be unable to pull Nigeria out of its economic slump unless the Paris Club agreed to reduce or ease the terms of the debt, according to AFP.

    Nigeria's foreign debt is estimated at some US $5 billion, AFP said.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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