Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,881 members, 7,956,326 topics. Date: Monday, 23 September 2024 at 10:00 AM |
Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / We Must Stop Borrowing And Start Printing Money For Our Development- Paul Kagame (2187 Views)
Rwanda’s Paul Kagame Wants A 4th Term / Rwanda's President Paul Kagame Approves The Retirement Of 924 Military Officials / Rwanda's Paul Kagame Tried Hacking SA's Cyril Ramaphosa's Phone (2) (3) (4)
Re: We Must Stop Borrowing And Start Printing Money For Our Development- Paul Kagame by Lipscomb(m): 12:36am On Apr 24, 2020 |
I too know is killing some people here...blind argument is what I can read here...Up to the year 1985, the Naira was the equivalent of the Pound Sterling and stronger than the Dollar. Yes, the almighty Dollar. IMF and world bank gave fake advice to Nigeria government to devalue her currency. The plunge in oil prices is piling pressure on Nigeria to devalue the naira as dwindling export revenue depletes foreign-exchange reserves, curbing the central bank's ability to support the currency. ... Brent crude prices have plummeted about 45% this year to around $36 a barrel.Mar 9, 2020. Nigeria government should stop listen to IMF or world bank on any economic issues this organization have no good plan for Africa than rapping them. Those years that our dollar stronger than dollar we dont produce anything we imported everything we used them yet the money still strong. My own Advise for Nigeria government is to freeze the account of politician there is no need to take them to one stupid court any politician that have more than two house and still keep like 1million dollar in his/her bank account is a thief . If government can confiscate the politician property and collaborate with other country to help us recover what our politicians hide in their country that will really help us. I don't support printing of money Because that will cause inflation on our economy. |
Re: We Must Stop Borrowing And Start Printing Money For Our Development- Paul Kagame by KunleyY19(m): 12:43am On Apr 24, 2020 |
Tinubu mentioned this... Any way make dem sha bring money come out. |
Re: We Must Stop Borrowing And Start Printing Money For Our Development- Paul Kagame by KunleyY19(m): 12:46am On Apr 24, 2020 |
Lipscomb: If buhari does this people will still accuse him of being a tyrannical dictator and witch hunting... Left for the man he might love this... But the backlash from our people gan will make him reconsider... So that suggestion in Nigeria if today is not feasible esp with this slow pace of judiciary. 1 Like |
Re: We Must Stop Borrowing And Start Printing Money For Our Development- Paul Kagame by AtikuNetwork: 12:50am On Apr 24, 2020 |
grandstar: Inflation is 'comatose' in those countries (as you put it) because they write/make and bend their rules at will, so you will probably never live to witness otherwise because they are always ready to rig their economic performance indices to always never get to that tipping point that would ordinarily threaten or collapse the economies of '3rd world countries', even though we all know they have flouted every rule in their sacred 'economics notebook'! Who will hold America accountable for it's unmanageable and staggering debt levels? The same World Bank that is its puppet? Oh please. Nigeria and Africa need to come up with a more localized developmental model that won't be dependent on the 'dos and don'ts' of the IMF and World bank, the same rules and institutions that keep us perpetually going about begging for bailout (and later debt forgiveness) from them since we just can't ever seem to do anything right by them or in accordance with their lofty standards of economic management. Now look at how China was able to seize the initiative by coming up with the Asian Infrastructure Investment Bank (AIIB), as an alternative to the WorldBank/IMF. They didn't grow the balls to do that by doing bambiala to IMF or WorldBank. They had to assert their independence over their own economy, and the West had no choice than to leave them be. |
Re: We Must Stop Borrowing And Start Printing Money For Our Development- Paul Kagame by Lipscomb(m): 1:03am On Apr 24, 2020 |
Of course Buhari can't do it Because it will affect him drastically... Although Buhari might not have 1million dollar in his bank account but what about his family? And secondly There's no how he will do that, that he will not offend those who help him to the seat. The only person that thought can fight for us when he/she become president is someone that get to aso rock by mistake. KunleyY19: |
Re: We Must Stop Borrowing And Start Printing Money For Our Development- Paul Kagame by Dtribeless: 1:24pm On Apr 24, 2020 |
AtikuNetwork: We have well educated Nigerians but no critical mass of such. Look at this site: while a lot of folks on here are educated, they sure don't sound like it. As for dictatorship being the better method, it's gains can disappear quickly. For example, in China, they cannot use the internet like you do even in Nigeria. At some point the are going to have to and all the gains can unravel. And China is not self-sufficient, they need massive capital investment from the West. As a matter of fact they are nervous right now, as the West might start to change it's supply chain. If China goes into a deep recession, the whole country can unravel in months. Democracy, if well implemented, reflects the combined will of the people; dictatorship is usually one man's or groups will on the ALL. Please pick holes in my arguments. |
Re: We Must Stop Borrowing And Start Printing Money For Our Development- Paul Kagame by Dtribeless: 1:29pm On Apr 24, 2020 |
AtikuNetwork: You because a Producer economy by having a critical mass of knowledgeable people; Africa does not have that. No one gives anyone permissions for ambitious projects, but what if you don't have the capital. A lot of factories in China are financed by Westerners. When Westerners design products and they figure it's too expensive to produce in the West, the call a producer in China and finance it entirely. Plus, China is not as rich as you think when it come to per capita income; the West is far ahead. China needs the West more than the West needs it. Production can easily shift to South Korea, Vietnam or Indonesia. Until Westerners start going to China to find work, China is still far behind. There are Chinese people flooding to yankee daily -- that is not a sign of seniority or peership. |
Re: We Must Stop Borrowing And Start Printing Money For Our Development- Paul Kagame by grandstar(m): 7:33pm On Apr 24, 2020 |
AtikuNetwork: Stop blaming the West for your economic failures. In 2020, it is now very lame. Take responsibility. The debt crisis of the 80s and 90s is long gone with the debt forgiveness policies of the 90s and early 2000s. Even Nigeria was able to reduce its foreign debt from $35b to $5b by buying back its debt with $12b. To sweeten things for African countries, China's rise has been a blessing, China's booming economy lifted up the price of commodities which boosted the economies of several Africajn countries. In addition, many African economies have implemented policies that have enabled them to grow and weather storms better than in the past. Many of the fastest growing economies of the world in 2018 and 2019 were Africa countries Look at this NASDAQ article. I think it was written in 2018 . There are also other articles. https://www.nasdaq.com/articles/the-5-fastest-growing-economies-in-the-world-2019-06-27 https://qz.com/africa/1522126/african-economies-to-watch-in-2019-and-looming-debt/ https://www.gfmag.com/global-data/economic-data/countries-highest-gdp-growth If African countries want to grow very fast, let them implement policies that will bring fast growth they want. It is as simple as that. In Guinea Bissau, it takes 266 days to register a company. In America, it takes less than 24 hours. Is that the fault of the world bank Look at Nigeria. Only God knows how many foreign investors were turned off by the difficulty of registering a company during Jonathan's time in office. Are you going to blame the West? The bloated civil service that gulps over 80% of the budget, is that the fault of the IMF? Nigeria's refusal to deregulate the price of fuel means it is spending over $1b a year on subsidies. How's that the West fault? The Americans and the EU have opened their markets to you. Are African countries exporting with gusto there? China grabbed that opportunity with both hands and see where it is today. African countries are in much better shape than they were in the 80s and 90s. In many countries, there's room for improvement. Rwanda's massive improvement over the years shows that the problems and solutions lie largely at home. Keep government spending in control. This will prevent you from going on a borrowing spree and blaming your creditors for your woes in life.. Make your country a haven for investment, both local and international. (Rwanda is no.30 in the Ease of Doing Business). This will encourage massive investments in your country which will boost economic growth and create lots of jobs. Stop blaming the West. Even some policies you call voodoo economics such as quantitative easing benefits African countries as it lifts commodity prices and boosts foreign investments. 1 Like |
Bill Gates Had Murdered The President Of Tanzania / Afraid Of World War 3, Milley Went Behind Trump’s Back To Calm China / See How Adolf Hitler Used Alien To Develop Weapon
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 48 |