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Nairaland Forum / Nairaland / General / Crime / US Warns Nigeria, African Countries Over Debt Burden. (26570 Views)
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Re: US Warns Nigeria, African Countries Over Debt Burden. by kernel01: 4:15pm On Jun 24, 2019 |
bro4u: Stop sounding like a fool. They offered Nigeria and 6 others debt relief then, and if warming them against taking loan above their financial limits sounds like "hypocrite" then you have problem with comprehension. 2 Likes |
Re: US Warns Nigeria, African Countries Over Debt Burden. by budaatum: 4:16pm On Jun 24, 2019 |
AnusOdourInhaler:15k in Naira is like how much in proper money? |
Re: US Warns Nigeria, African Countries Over Debt Burden. by PoliteActivist: 4:16pm On Jun 24, 2019 |
cooltola: This is like saying Dangote owes more to banks than others. US, if they must, can wipe out their debt in one minute, by internal bail out |
Re: US Warns Nigeria, African Countries Over Debt Burden. by kernel01: 4:17pm On Jun 24, 2019 |
Flier: If they are, they would have done exactly what the Chinese are doing now, taking over your economy. They offered you debt relief, while the Chinese are seizing your economic gateway. 3 Likes |
Re: US Warns Nigeria, African Countries Over Debt Burden. by budaatum: 4:17pm On Jun 24, 2019 |
Re: US Warns Nigeria, African Countries Over Debt Burden. by zoedew: 4:21pm On Jun 24, 2019 |
tolexy007:Indeed not well informed! |
Re: US Warns Nigeria, African Countries Over Debt Burden. by BLUEJAYY: 4:21pm On Jun 24, 2019 |
PoliteActivist:I wouldn't mind if it were China. Imagine the Chinese taking over our rail projects, power sector, refineries etc. They'd do a great job executing these projects and maintaining them. On the one hand, they run these projects and take their percentages until they get back all their loan amounts while we the masses on the other hand, get to enjoy smoothly run, properly maintained, and corruption-free services. Better than leaving it in the hands of our corrupt leaders who because of looting these loans, couldn't even do a good job to generate revenue to pay back the loans as was agreed. It is inevitable that China is taking over African infrastructures in the near future. No question about that. 1 Like |
Re: US Warns Nigeria, African Countries Over Debt Burden. by PoliteActivist: 4:22pm On Jun 24, 2019 |
LarryBee1k: If you said this in China you'd be in re-education (jail) so fast. You don't realize the freedom you enjoy not being in China 2 Likes |
Re: US Warns Nigeria, African Countries Over Debt Burden. by Walehelt(m): 4:23pm On Jun 24, 2019 |
Sunijacks: 15k?
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Re: US Warns Nigeria, African Countries Over Debt Burden. by ernieboy(m): 4:25pm On Jun 24, 2019 |
budaatum:the diff between USA debt to China and African debt to China lies in the terms 1. most of us indebtedness to China is in the form of treasury bills and bonds. 2. as a follow up to the above the us does not use any of its national assets as collateral in any debt negotiation 3. African countries tied their debts to strategic national assets and will lose those assets to Chinese control if they default 4. the projects the debts were meant for were actually executed by the Chinese themselves ( part of the terms) so altogether it is a win win for them. it is like a bank lending u money and also insisting on spending( executing the project) on your behalf. most African leaders will definitely lose many of their national assets in the future because the Chinese will not be magnanimous to write off any debt. 3 Likes |
Re: US Warns Nigeria, African Countries Over Debt Burden. by j1mmy: 4:27pm On Jun 24, 2019 |
Flier:I suppose your ape mentality will not allow you read through the lines of the warning. While America and western countries decry their declining influence in Africa, they at least warn on the consequences of Chinese colonization of Africa - The attitude of Africans (similar to yours) is nothing short of being mentally-monkeys while Chinese use the brains of Africans to loot whatever is left in the continent. If you think they are colonizing Africa in the worse way possible now, wait until Africans cannot pay back the loans then watch Chinese collect national treasures, roads, bridges, and even the places where your ancestors are buried...then your stupid thinking will make sense. 4 Likes |
Re: US Warns Nigeria, African Countries Over Debt Burden. by Nobody: 4:27pm On Jun 24, 2019 |
bro4u: Have you seen your life outside. Soon you would be crying victimization when it sets. 3 Likes |
Re: US Warns Nigeria, African Countries Over Debt Burden. by Nobody: 4:27pm On Jun 24, 2019 |
kernel01: Wish all these niaraland subjective financial experts will for once be rational and see the logical reasoning behind the comment above. 1 Like |
Re: US Warns Nigeria, African Countries Over Debt Burden. by AnusOdourInhaler: 4:27pm On Jun 24, 2019 |
budaatum:&41 or $8.2000000000 for the overall population. This is just for China. 24 trillion Naira or $6.5700000000000. Total debt |
Re: US Warns Nigeria, African Countries Over Debt Burden. by PoliteActivist: 4:27pm On Jun 24, 2019 |
BLUEJAYY: You don't get it. It's like saying you'd rather be in a well-run jail than free. If China were in charge you'd be monitored and tagged, everything u do, every word 3 Likes |
Re: US Warns Nigeria, African Countries Over Debt Burden. by ernieboy(m): 4:28pm On Jun 24, 2019 |
budaatum:most us foreign debts are in the form of treasury bills and bonds, guy educate yourself. |
Re: US Warns Nigeria, African Countries Over Debt Burden. by Nobody: 4:32pm On Jun 24, 2019 |
PoliteActivist: A well simplified summary of the subject in discuss. If you still don't get it after reading the comment above, then you are .................. |
Re: US Warns Nigeria, African Countries Over Debt Burden. by Angelfrost(m): 4:33pm On Jun 24, 2019 |
byrron: Okay... Well Noted. Thank you. |
Re: US Warns Nigeria, African Countries Over Debt Burden. by kernel01: 4:34pm On Jun 24, 2019 |
byrron: Oga... Behind any motive, it's not healthy to have debt far higher than your revenue. If Nigeria was to keep servicing the debt of $30 billion till now, 100% of Nigerian budget will go for recurrent. Your enemy telling you not to eat poison, doesn't mean he's loves you, and doesn't mean that if you eat it you won't die. 1 Like 1 Share |
Re: US Warns Nigeria, African Countries Over Debt Burden. by budaatum: 4:34pm On Jun 24, 2019 |
ernieboy: I bet you can't name five national assets that Nigeria would use as collateral to China. And wouldn't US have to relinquish some of its very juicy assets if they can't pay their debt? Go read up about the Argentina Debt Crisis and the more recent in Italy and Greece. You might get an idea. |
Re: US Warns Nigeria, African Countries Over Debt Burden. by Nobody: 4:35pm On Jun 24, 2019 |
Angelfrost: Thanks |
Re: US Warns Nigeria, African Countries Over Debt Burden. by uckennety(m): 4:36pm On Jun 24, 2019 |
bid4rich: That was those days This days you go they beg borrower for your money and if you no take time you go collect beating on top |
Re: US Warns Nigeria, African Countries Over Debt Burden. by budaatum: 4:36pm On Jun 24, 2019 |
ernieboy:Oh, my bad. Its not really debt then, or money. I wonder who needs education! |
Re: US Warns Nigeria, African Countries Over Debt Burden. by ernieboy(m): 4:36pm On Jun 24, 2019 |
budaatum:oga do u know the meaning of treasury bills and bonds? 1 Like |
Re: US Warns Nigeria, African Countries Over Debt Burden. by khalids: 4:37pm On Jun 24, 2019 |
bid4rich: Bros cool down.....they are saying it for their own interest....no be say them like us.... Do know how much them owe china The U.S. debt to China is $1.12 trillion as of March 2019 1 Like |
Re: US Warns Nigeria, African Countries Over Debt Burden. by Nobody: 4:38pm On Jun 24, 2019 |
There are good and bad debts. To borrow money to go to college to major in a viable career [Law, Medicine, Engineering, Architecture, Finance, etc.] is a good debt but to take a loan to buy a car or go on vacation are all bad debts. Now, when it comes to African countries especially Nigeria, to borrow money to make an investment in the future of the country is definitely a good debt. But that's usually not the case. Nigerian past and present rulers had taken loans to feather their own nests and advance their personal interests. They can't show what they have actually done with the money other than getting involved in "elephant" projects that end up not being completed but abandoned and left to rot away after the money had been diverted to personal use. This is the bane of Nigeria and other African countries because these rulers end up mortgaging the future of their citizens including the ones yet to be born. 1 Like |
Re: US Warns Nigeria, African Countries Over Debt Burden. by BLUEJAYY: 4:39pm On Jun 24, 2019 |
PoliteActivist:You can't know that. Look, we are absolutely corrupt that we can't run an organized, innovative and developed society. We can't even create such society in the first place. These people as we know, can. South Africa is what it is today, because of the 'immigrants' who took over their land and developed it. Those white guys still run their economy and infrastructures. The Nigerian man has to move over and let capable people take over due process since he's so corrupt to a fault. There's no bloody way we can pay back those huge Chinese loans. I bet you 50% of those have been promptly looted. So the guys must come in and seize control of the collaterals. 1 Like |
Re: US Warns Nigeria, African Countries Over Debt Burden. by Nobody: 4:39pm On Jun 24, 2019 |
kernel01: Nigeria ought to be at the point now where it should use it's own senses to make decisions that is best for it's survival and not what a percieved friend nor foe advices her to do. Stupidly is doing same retrogressive things for decades and expecting progressive outcomes. |
Re: US Warns Nigeria, African Countries Over Debt Burden. by PoliteActivist: 4:40pm On Jun 24, 2019 |
NameChecker:
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Re: US Warns Nigeria, African Countries Over Debt Burden. by ernieboy(m): 4:41pm On Jun 24, 2019 |
budaatum:yes it is debt but the issuer( ie borrower) has control over the terms. they specify the repayment terms and maturity... guy just read up on bonds and treasury bills and u will be able to argue more intelligently. |
Re: US Warns Nigeria, African Countries Over Debt Burden. by 9gerian: 4:42pm On Jun 24, 2019 |
China OCEANMORGAN: |
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