ABUJA, Nov 20 (Reuters) - Nigeria has proposed writing off $13 million out of $48 million it is owed by Liberia as a contribution to consolidating peace there, President Umaru Yar’Adua said in a letter read out to the Senate on Tuesday.
He said Liberia’s debt burden was an obstacle to economic recovery in the small West African country, which emerged from 14 years of civil war in 2003 desperately poor and saddled with $4.5 billion in foreign debts.
“The Liberian government has made several passionate pleas to Nigeria to write off the debts,” Yar’Adua said in his letter, seeking approval from the Senate for the write-off.
“There is a potential risk of Liberia sliding back into anarchy if progress is not made in achieving sustainable economic development, which will undermine our previous efforts,” he said.
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