THIRD WORLD EXTERNAL DEBT ANTIGENS AND INTERNATIONAL ANTIBODIES: EXPOSITORY REEXAMINATION AND LESSONS FOR NIGERIA

Given the intractable external debt crisis which ravaged less developed countries, particularly from late 1970s to the chase of 1980s, this study attempted a programmed
expository analysis of internatioha initiatives aimed at providing the needed relief. Adopting content analytical design, the study established that the international community adopted a common front, with debt forgiveness as the pivotal action point, Concluding, the study noted the detiva magnanimity of the international community and recommends domestic policy reforms by less developed countries including a paradigm shift from preference for external borrowing to hamessing available internal revenue resources, to forestall a relapse into debt crisis.