Financial Times FT.com

How the developing world is striving to free itself of debt

By Joanna Chung in London

Published: February 8 2007 20:42 | Last updated: February 8 2007 20:42

The head of the Nigerian government’s Debt Management Office is as mild-mannered as debt management officers come. But even he could not resist what in that profession must be the equivalent of a sportsman’s victory dance: a flourish to demonstrate the consummate mastery of his game.

Into his PowerPoint slide presentation detailing Nigeria’s clearance of more than $30bn (£15bn, €23bn) of its external debt, Mansur Muhtar, the official, slipped an unexpected but dazzling image of fireworks.

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