Financial crisis 'will drive up debt repayments for poorer nations'

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“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