Corrupt, mismanaged, and seemingly hopeless: that's how the international communityviewed Nigeria in the early 2000s. Then Nigeria implemented a sweeping set of economic and politicalchanges and began to reform the unreformable. This book tells the story of how a dedicated andpolitically committed team of reformers set out to fix a series of broken institutions, and in theprocess repositioned Nigeria's economy in ways that helped create a more diversified springboard forsteadier long-term growth.
The author, Harvard- and MIT-trained economist NgoziOkonjo-Iweala, currently Nigeria's Coordinating Minister for the Economy and Minister of Finance andformerly Managing Director of the World Bank, played a crucial part in her country's economicreforms. In Nigeria's Debt Management Office, and later as Minister of Finance, she spearheadednegotiations with the Paris Club that led to the wiping out of $30 billion of Nigeria's externaldebt, 60 percent of which was outright cancellation. Reforming the Unreformableoffers an insider's view of those debt negotiations; it also details the fight against corruptionand the struggle to implement a series of macroeconomic and structural reforms.
This story of development economics in action, written from the front lines ofeconomic reform in Africa, offers a unique perspective on the complex and uncertain global economicenvironment.
Ngozi Okonjo-Iweala is Nigeria's Coordinating Minister for the Economy and Minister of Finance. From 2007 to 2011 she was Managing Director of the World Bank, overseeing activities in South Asia, Europe, Central Asia, and Africa.
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