JERRY1925:


Why them they do like say this money they fall from heaven.. �

No be for earth them they print money.

Make then print another Money abi?

Like that for go well ooh

NameChecker:
After losing to HUAWEI, this is your next strategy

how did USA lose HUAWEI? Please I will like to get a reply from you

byrron:
The diplomat should rather start advocating for African countries not be giving any loan any more by any financial organizations both home and away.

Why? Why should China or any other wealthy Foreign nation miss out on a juicy chance to re-colonize or annex profitable parts of Africa?... Americans are hating cos they don't have the means to hold Africa hostage...

African leaders should continue mismanaging their declining resources... Soon, the entire continent will be back in chains.

I beg Nigeria collect the loan well well so at the end Nigeria can sold to Chinese am ready to change my name and be useful for the china.

USA haVE the highest debt in the world.

For your HND to BSC degree conversion program 2019, check my signature

OCEANMORGAN:
United States of America, USA top Africa diplomat, Tibor Nagy, on Monday warned African countries to be mindful of their debt burden.

Nagy, who spoke in Pretoria, South Africa, warned that African countries owing amount they cannot pay back, not to expect being bailed out by western-sponsored debt relief.

Nagy, U.S. Assistant Secretary of State for African Affairs, said “The International Monetary Fund and World Bank began the Heavily Indebted Poor Countries (HIPC) Initiative in 1996 to help the world’s poorest countries clear billions of dollars worth of unsustainable debt.

“But Africa is facing another potential debt crisis today, with around 40 percent of low-income countries in the region now in debt distress or at high risk of it, according to an IMF report released a year ago.

“We went through this, just in the last 20 years, this big debt forgiveness for a lot of African countries.

“I certainly would not be sympathetic, and I do not think my administration would be sympathetic to that kind of situation,’’ he told reporters.

Under Donald Trump’s administration, the U.S. has criticized China for pushing poor countries into debt, mainly through lending for large-scale infrastructure projects.

Nagy has warned that those nations risk losing control of strategic assets if they cannot repay the Chinese loans, NAN reports.

Sri Lanka formally handed over commercial activities in its main southern port in the town of Hambantota to a Chinese company in 2017 as part of a plan to convert $6 billion of loans that Sri Lanka owes China into equity.

U.S. officials have warned that a strategic port in the tiny Horn of Africa nation of Djibouti could be next, a prospect the government there has denied.

From 2000 to 2016, China loaned around $125 billion to the continent, according to data from the China-Africa Research Initiative at Washington’s Johns Hopkins University School of Advanced International Studies.


https://dailypost.ng/2019/06/24/us-warns-nigeria-african-countries-debt-burden/

THIS IS WHY NIGERIA SHOULD ERADICATE THIS MILITARY IMPOSED UNITARY STRUCTURE AND BE RESTRUCTURED INTO A TRUE FEDERALIST STATE.

LET EACH STATE BE PRODUCING EXPORTABLE GOODS THAT CAN BRING IN MONEY.

GOING TO BORROW MONEY FROM CHINA AND OTHER WESTERN DEMOCRACY IS A FOOLISH IDEA.

IF THOSE GOVERNMENT CAN INVEST, SAVE AND DEVELOP THEIR FINANCES TO GET TO WHERE THEY ARE.

Then what is stopping African countries from growing their own national wealth.

We just read in todays nairaland thread how russia single handedly develop one of europes longest bridge.

OVER 50 YEARS AFTER THE DISCOVERY OF CRUDE OIL IN OLOIBIRI IN BAYELSA STATE BY SHELL D ACY WE CAN NOT BOOST OF ANY MAJOR HUMAN CAPITAL INVESTMENT IN THE NIGER DELTA REGION.

NO BRIDGE OR ROAD TO MOST RIVERINE COMMUNITY IN OIL PRODUCING STATE.

WHAT A SHAME !

How about US debt burden? Most of these western countries talk as if their countries are like paradise.FG should work on the debt profile too.Spending 50% of the budget to service debt is uncalled for.

AnusOdourInhaler:
The way Bubu is getting us indebted, Colonial system will be restored for us to pay for it

Can you educate us on how much debt bubu has indebted us please?

Ikem11:
Make una still dey borrow no need warning them.. If any can't pay back just take over the country

Shikena now! What's there problem?!

Angelfrost:


Why? Why should China or any other wealthy Foreign nation miss out on a juicy chance to re-colonize or annex profitable parts of Africa?... Americans are hating cos they don't have the means to hold Africa hostage...

African leaders should continue mismanaging their declining resources... Soon, the entire continent will be back in chains.

This is not about American's hating rather it is about Africans mortgaging their present future and that of their unborn.

African nations are indepedted to almost all financial institutions all over the world and have being unable to pay back yet they are now pilling up their debt portfolio by borrowing more money from China.

The earlier African young generations stops seeing these issues as American this and that and start smelling the coffee and see the long term negative impacts this has on their future the better for them.

NOL2dworld:
chinko colonization

In a weird sort of way I don't think Chinko wants you.

NameChecker:
After losing to HUAWEI, this is your next strategy

Losing what to Huawei?

Be specific. Or Huawei being dealt with.

bro4u:
From the write-up they are actually warning us from taking Chinese loans, lols which looks like a cry from a drowning nation because nations no longer go to the US for loans but now opt for the Chinese. Hypocrites, they won't tell you they are the biggest debtor in the world.

The truth being told; both countries are in tussle for economic power. Since poor countries of the world are indebted to the western nations; how many port or strategic infrastructure has been taken over? Chinese are crude and are not ripen enough to take helm of world economic affairs; they should learn more about subtle side of leadership and not muscle flexing.

bro4u:
From the write-up they are actually warning us from taking Chinese loans, lols which looks like a cry from a drowning nation because nations no longer go to the US for loans but now opt for the Chinese. Hypocrites, they won't tell you they are the biggest debtor in the world.

in the near future china any actually take over some strategic national assets if debtor nations are unable to pay back, I don't see China being magnanimous enough to forgive debtor nations and ignorant folks like u are making joke of the situation. the USA has Hugh debts but its debts are not tied to strategic national assets like most African countries are doing.

bro4u:
From the write-up they are actually warning us from taking Chinese loans, lols which looks like a cry from a drowning nation because nations no longer go to the US for loans but now opt for the Chinese. Hypocrites, they won't tell you they are the biggest debtor in the world.

With the World's largest economy and richest oil and gas reserves, the US does not need you or anyone, this is what many do not understand.

With all the oil and gas reserves Nigeria is so proud of, it does not feature on the list of top 20 oil producing nations. The US is number 1 beating the vast reserves of Saudi Arabia and Russia by far.

bro4u:
From the write-up they are actually warning us from taking Chinese loans, lols which looks like a cry from a drowning nation because nations no longer go to the US for loans but now opt for the Chinese. Hypocrites, they won't tell you they are the biggest debtor in the world.

Wrong. US simply has some morals while China has none. Unscruplous rich people do it to the poor: lend them money you know they cannot pay (usually so they can buy your products) , once they default, u own them.
It is called predatory lending. US can wipe out all their debt in one minute if they wish, by internal bail out.

byrron:


This is not about American's hating rather it is about Africans mortgaging their present future and that of their unborn.

African nations are indepedted to almost all financial institutions all over the world and have being unable to pay back yet they are now pilling up their debt portfolio by borrowing more money from China.

The earlier African young generations stops seeing these issues as American this and that and start smelling the coffee and see the long term negative impacts this has on their future the better for them.

Sigh... Please, re-read that response again as slowly as possible.

NameChecker:
After losing to HUAWEI, this is your next strategy

lose to Huawei? U no nothing

bro4u:
From the write-up they are actually warning us from taking Chinese loans, lols which looks like a cry from a drowning nation because nations no longer go to the US for loans but now opt for the Chinese. Hypocrites, they won't tell you they are the biggest debtor in the world.

You miss the point he was making. Borrowing to finance infrastructure is in itself not a bad idea where the borrowed funds are not stolen via corruption but strictly and in a manner qualitative applied to the intended purpose and the economy is sufficiently grown to sustain the borrowing initiative. In the growing US economy much of the borrowing is local and it is not stolen but applied for purposes intended unlike Nigeria where the economy is sluggish and the borrowed sum misapplied through corruption in the genre of contract inflation, splitting and outright non-performance.

Temple1288:
Africans are just too daft to understand that the Chinese people who give out this loans are extremely difficult to handle..

I tell u my brother, look at soon ignorant folks above making jest of America but they don't even know that the Chinese were so smart that they tied most of these debts to strategic national assets and any country that defaults will lose these assets to Chinese control, our people are indeed very dumb.

BLUEJAYY:
Well, if these countries can't pay back their loans, then the lenders would go ahead and take over their economies, ushering in the newest form of colonialism.

Maybe Africa is better being colonized, since her leaders are irredeemably corrupt and backward.

Maybe, but not by China. They are ruthless and cruel, maybe because they are godless

cooltola:
USA haVE the highest debt in the world.

but USA never mortgaged its national assets like most African countries are doing to secure loans.

ernieboy:
I tell u my brother, look at soon ignorant fills above making jest of America but they don't even know that the Chinese were so smart that they tied most of these debts to strategic national assets and any country that defaults will lose these assets to Chinese control. are people are indeed very dumb.

It's just very simple. Whoever argues with you, tell the person to go work in a Chinese company and see how he'd be turned to a slave automatically!!

Sunijacks:
Mehn , that's huge


Can't these debts be paid bit by bit till its cleared?


Or they prefer paying it once
.
Like they say that every Nigerian Owes China the Sum of 15k individually

15k? Is that all?

Debt per person in UK £35k

Debt per person in USA is $85k

Angelfrost:


Sigh... Please, re-read that response again as slowly as possible.

I got your response and also went ahead to give my thoughts on the issue as a follow up.

Nothing to re-read.

bro4u:
From the write-up they are actually warning us from taking Chinese loans, lols which looks like a cry from a drowning nation because nations no longer go to the US for loans but now opt for the Chinese. Hypocrites, they won't tell you they are the biggest debtor in the world.

But they are being realistic here. Didn't you notice the Sri Lanka example?
The difference between the Western World and China is that China never forgives or cancels debt for poorer nations of the world. Once you default your debt payment, China will seize ur major assets.
US knows that African nations are selling themselves to China, so they are warning us ahead. Yes, there may be an element of jealousy against China in it, but the truth is that many African nations will lose their key assets to China in the next couple of years or decades.

budaatum:

Can you educate us on how much debt bubu has indebted us please?

Currently, every Nigerian is owning China 15,000 Naira. And our population is 200,000,000. Do the math..
Our overall debt profile is 24 trillion Naira. Bubu, doubled it and still adding.

JubrinElSudan:
The worst is that African's major creditor is China. Some persons will say US/IMF/Paris club etc are angry Africans don't borrow from them, but atleast the western creditors had history of erasing some of the debts. But China? China will lend you, use her manpower to execute the projects(like CCECC is doing to us), and once you default, they take over

A large chunk of US debt is China too. About $1.12 trillion as of March 2019, that's 28% of the $4.07 trillion!

Now, do that analysis you done above again and lets see.