NIGERIA: GON PLANS TO VISIT IMF AND TREASURY IN

UNCLAS ABUJA 002338 SIPDIS TREASURY FOR SONAL SHAH E.O. 12958: N/A TAGS: ECON EFIN NI SUBJECT: NIGERIA: GON PLANS TO VISIT IMF AND TREASURY IN WASHINGTON REF: ABUJA 2301 ¶1. EconOff received a call September 18 from Debt Management Office Director-General A.S. Arikawe. Arikawe said that he and Minister of Finance Ciroma expect to travel soon to Washington despite the postponed IMF/World Bank annual meetings. In particular, Arikawe said, the Minister would like to meet with IMF officials to discuss the Stand-by Arrangement (in light of IMF team's review reported in Reftel). Arikawe commented, "the SBA does not look good, and if the SBA does not hold, than the Paris Club debt rescheduling would also not hold." ¶2. Arikawe requested, therefore, meetings with U.S. Treasury officials in order to discuss Nigeria's 2002 debt obligations in the eventuality that the IMF program is terminated. He said that without a rescheduling, Nigeria would owe USD 2.5 billion in 2002, which "would not be possible." Arikawe commented that he would also contact the other major players in the Paris Club in regards to organizing a meeting between the GON and Paris Club. Andrews