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Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy

Nigeria as also most African countries have as yet nothing to show from receiving foreign aid and loans running into billions of dollars well over the past 40 years.The contention for an end to aids and loans to developing countries and Nigeria in particular especially holds from the immense harsh...

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Main Authors: Igwe, Stanley Chinedu, Abdullah, Mohamad Ainuddin Iskandar Lee, Sherko, Kirmanj
Format: Article
Language:English
Published: Canadian Academy of Oriental and Occidental Culture 2016
Subjects:
HJ Public Finance
Online Access:http://repo.uum.edu.my/22129/1/CSS%2012%2012%202016%2042%2047.pdf
http://repo.uum.edu.my/22129/
http://www.cscanada.net/index.php/css/article/view/9026
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spelling my.uum.repo.221292017-06-04T07:16:07Z http://repo.uum.edu.my/22129/ Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy Igwe, Stanley Chinedu Abdullah, Mohamad Ainuddin Iskandar Lee Sherko, Kirmanj HJ Public Finance Nigeria as also most African countries have as yet nothing to show from receiving foreign aid and loans running into billions of dollars well over the past 40 years.The contention for an end to aids and loans to developing countries and Nigeria in particular especially holds from the immense harsh realities that have been endured by the masses of the people all through the decades external aids have subsisted.The paper carried out a documentary survey of the impact of International Monetary Fund’s structural adjustment policies (SAP) on salient aspects of the Nigerian political ecology and found that IMF conditionalities are dubiously aimed at maintaining continued resource transfer from debtor countries to creditor nations with adverse impact on the environment and cost of living of the civic population of debtor countries. The adversities brought about by the policies ultimately violate international conventions on rights to life and well-being.The study therefore requests civil society groups, nongovernmental organisations and concerned international organisations to intervene and redefine the terms of engagement between debtor nations and their creditors with a view to redressing the disproportionate incidence of external debt and its conditionalities on the civic population of debtor nations especially those of Nigeria. Canadian Academy of Oriental and Occidental Culture 2016 Article PeerReviewed application/pdf en cc4_by http://repo.uum.edu.my/22129/1/CSS%2012%2012%202016%2042%2047.pdf Igwe, Stanley Chinedu and Abdullah, Mohamad Ainuddin Iskandar Lee and Sherko, Kirmanj (2016) Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy. Canadian Social Science, 12 (12). pp. 42-47. ISSN 1712-8056 http://www.cscanada.net/index.php/css/article/view/9026
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutionali Repository
url_provider http://repo.uum.edu.my/
language English
topic HJ Public Finance
spellingShingle HJ Public Finance
Igwe, Stanley Chinedu
Abdullah, Mohamad Ainuddin Iskandar Lee
Sherko, Kirmanj
Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy
description Nigeria as also most African countries have as yet nothing to show from receiving foreign aid and loans running into billions of dollars well over the past 40 years.The contention for an end to aids and loans to developing countries and Nigeria in particular especially holds from the immense harsh realities that have been endured by the masses of the people all through the decades external aids have subsisted.The paper carried out a documentary survey of the impact of International Monetary Fund’s structural adjustment policies (SAP) on salient aspects of the Nigerian political ecology and found that IMF conditionalities are dubiously aimed at maintaining continued resource transfer from debtor countries to creditor nations with adverse impact on the environment and cost of living of the civic population of debtor countries. The adversities brought about by the policies ultimately violate international conventions on rights to life and well-being.The study therefore requests civil society groups, nongovernmental organisations and concerned international organisations to intervene and redefine the terms of engagement between debtor nations and their creditors with a view to redressing the disproportionate incidence of external debt and its conditionalities on the civic population of debtor nations especially those of Nigeria.
format Article
author Igwe, Stanley Chinedu
Abdullah, Mohamad Ainuddin Iskandar Lee
Sherko, Kirmanj
author_facet Igwe, Stanley Chinedu
Abdullah, Mohamad Ainuddin Iskandar Lee
Sherko, Kirmanj
author_sort Igwe, Stanley Chinedu
title Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy
title_short Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy
title_full Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy
title_fullStr Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy
title_full_unstemmed Impact of external debt-induced structural adjustment policies on salient aspects of the Nigerian economy
title_sort impact of external debt-induced structural adjustment policies on salient aspects of the nigerian economy
publisher Canadian Academy of Oriental and Occidental Culture
publishDate 2016
url http://repo.uum.edu.my/22129/1/CSS%2012%2012%202016%2042%2047.pdf
http://repo.uum.edu.my/22129/
http://www.cscanada.net/index.php/css/article/view/9026
_version_ 1644283432213151744
score 13.211869

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