“All that we had borrowed up to 1985 or 1986 was around $5 billion and we have paid about $16 billion.
Yet we are still being told that we owe about $28 billion.
That $28 billion came about because of the injustice in the foreign creditors’ (lenders) interest rates.
If you ask me what is the worst thing in the world, I will say it is compound interest.”
-Jubilee 2000 News Update, August 2000
Former president Obasanjo of Nigeria
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