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.

AnusOdourInhaler:


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.

cooltola:
USA haVE the highest debt in the world.

Flier:
They are jealous of Chinese influence in Africa

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

budaatum:

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.

tolexy007:


lose to Huawei? U no nothing

PoliteActivist:


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

LarryBee1k:
I swear to God. I want China to colonize us. They should be very strict. Should be worse than British own. Chai we don suffer for Nigeria. Present Nigeria is worse than slavery.

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

budaatum:

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.

Flier:
They are jealous of Chinese influence in Africa

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.

kernel01:



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.

budaatum:
15k in Naira is like how much in proper money?

BLUEJAYY:
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 corrupt-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.

budaatum:

Seriously

PoliteActivist:


It's like saying you'd rather be in a well-run jail than free.

byrron:


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

Nothing to re-read.

byrron:


Wish all these niaraland subjective financial experts will for once be rational and see the logical reasoning behind the comment above.

ernieboy:
the diff between usandebt 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.

Angelfrost:


Okay... Well Noted. Thank you.

bid4rich:
That is the difference between the country that is thinking (China) and the one that is not thinking (Nigeria/Africa)

A borrower will always be a slave to the lender

ernieboy:
most us foreign debts are in the form of treasury bills and bonds, guy educate yourself.

budaatum:


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.

bid4rich:
That is the difference between the country that is thinking (China) and the one that is not thinking (Nigeria/Africa)

A borrower will always be a slave to the lender

PoliteActivist:


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

kernel01:



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.

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

budaatum:

Oh, my bad. Its not really debt then, or money.

I wonder who needs education!

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/