Nigeria Gets Debt Relief From China, G-20 - Politics (4)

Nigeria Gets Debt Relief From China, G-20 - Politics (4) - Nairaland

Nairaland Forum › Nairaland General › Politics › Nigeria Gets Debt Relief From China, G-20 (45732 Views)

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Re: Nigeria Gets Debt Relief From China, G-20 by 9jaRealist: 8:47pm On Apr 17, 2020

dre11:
https://www.thecable.ng/breaking-nigeria-gets-debt-relief-from-china-g-20

Nigeria is actually NOT an IDA country...
However, it is an IDA-eligible country for “blended” credit facilities.
>

Re: Nigeria Gets Debt Relief From China, G-20 by frog12: 8:48pm On Apr 17, 2020

the country will forever be in debt because it is easy way out

Re: Nigeria Gets Debt Relief From China, G-20 by Collins4u1(m): 8:48pm On Apr 17, 2020

Adaogwashi1:
More looting for buhari government

I still remain Ada ogwashi

Ada Ogwashi.

Re: Nigeria Gets Debt Relief From China, G-20 by rusher14: 8:48pm On Apr 17, 2020

stormborn28:
shaaataaap...do you have home training? I ask a question, which is common among Nigerians... The money the government generate how have they utilize it... It has been looting all the years... Look at the foolish law breakers in Nasarawa that their useless governor just bought hilux van for recently when hospitals lack basic facilities... Nonsense everywhere

Again I insist you lack home training.

Do you think when they order Hilux Vans they get it the same day as you would get your Akara from Mama Peace at the junction?

Too many kids on this forum.

1 Like 1 Share

Re: Nigeria Gets Debt Relief From China, G-20 by letitrainnow(m): 8:50pm On Apr 17, 2020

Is Nigeria �� a poor � country?

shocked

Re: Nigeria Gets Debt Relief From China, G-20 by Nobody: 8:53pm On Apr 17, 2020

China that's already experiencing economic melt down.
lipsrsealed

Re: Nigeria Gets Debt Relief From China, G-20 by stormborn28(m): 8:55pm On Apr 17, 2020

rusher14:
Again I insist you lack home training.

Do you think when they order Hilux Vans they get it the same day as you would get your Akara from Mama Peace at the junction?

Too many kids on this forum.

you lack home training.. So the hospital wasn't there long before they think about buying those hilux vans...Nasarawa has no single ventilator for your information ...nonsense everywhere

Re: Nigeria Gets Debt Relief From China, G-20 by kemyy: 8:55pm On Apr 17, 2020

OK '' ooooo

Re: Nigeria Gets Debt Relief From China, G-20 by rusher14: 8:56pm On Apr 17, 2020

stormborn28:
you lack home training.. So the hospital wasn't there long before they think about buying those hilux vans...Nasarawa has no single ventilator for your information ...nonsense everywhere

Agreed Nassarawa has no ventilator.

Did ventilators just become invented?

Re: Nigeria Gets Debt Relief From China, G-20 by Cousin9999: 8:57pm On Apr 17, 2020

Let me tell you something right now.

No African nation owes those thieving, lying parasites anything.

They've stolen up to trillions in resources. They've capitalized on those resources in the international market as well as propped up their unsustainable country.

Even in actual trade, they shortchanged Africans so bad (like all foreigners) that there is no way that anything is owed.

THEY OWE AFRICA. The same way Europe and the US owes Africa. Africa gave these countries their wealth AND sustains their backwards, wasteful, regressive lifestyle.

3 Likes 2 Shares

Re: Nigeria Gets Debt Relief From China, G-20 by koffsman(m): 9:01pm On Apr 17, 2020

Our leaders will still use the money generated for paying debt but with the debt relief the said money which is supposed to be diverted to Health, Education, Creation of jobs , roads and housing and other basic things will be in our leaders pocket so Nigeria will always be a joke to the Westerns

Re: Nigeria Gets Debt Relief From China, G-20 by calaharry: 9:02pm On Apr 17, 2020

This why they romance wit chinko

Re: Nigeria Gets Debt Relief From China, G-20 by panpan(m): 9:03pm On Apr 17, 2020

dre11:
“I take note that in the G-20 meetings, China is supporting the international agreement to allowing moratorium of debt repayments by IDA countries if they ask for forbearance."

<<The details of the debt relief agreement have not yet been made public.>>

Why was the last paragraph (stated above) excluded?

A "moratorium of debt repayments" is not debt relief. It is just a suspension debt payment obligations; the suspension can be lifted at anytime.

Re: Nigeria Gets Debt Relief From China, G-20 by stormborn28(m): 9:03pm On Apr 17, 2020

rusher14:
Agreed Nassarawa has no ventilator.

Did ventilators just become invented?

but the law breakers know what is good for them and how to take care of themselves right? And the citizens who voted for them are less of importance

Re: Nigeria Gets Debt Relief From China, G-20 by calaharry: 9:04pm On Apr 17, 2020

letitrainnow:
Is Nigeria �� a poor � country?

how about turnin N300 into N2000.
Even in face of danger people are stil scaming others

1 Like

Re: Nigeria Gets Debt Relief From China, G-20 by Bizibi(m): 9:05pm On Apr 17, 2020

rusher14:
And what exactly is wrong with borrowing ?

abrg spare us the bs when it concerns Nigeria government.

1 Like

Re: Nigeria Gets Debt Relief From China, G-20 by rusher14: 9:06pm On Apr 17, 2020

Bizibi:
abrg spare us the bs when it concerns Nigeria government.

Suddenly tongue tied.

Re: Nigeria Gets Debt Relief From China, G-20 by nextstep(m): 9:06pm On Apr 17, 2020

Forbearance is not debt forgiveness oh.
Buhari, who is going to pay all this debt you've been piling on once you're gone? And who is benefiting?

It's not the masses who say there are no jobs. It's not the health care system. It's not our educational system.

Let it not be that in 2030, China has us by the balls because you've been borrowing money willy nilly, and now have regulated us back to a poor country. Imagine, a country with GDP exceeding $600billion, with a huge potential workforce and domestic market larger than all of Britain, begging for debt relief?

1 Like

Re: Nigeria Gets Debt Relief From China, G-20 by rusher14: 9:08pm On Apr 17, 2020

Cousin9999:
Let me tell you something right now.

No African nation owes those thieving, lying parasites anything.

They've stolen up to trillions in resources. They've capitalized on those resources in the international market as well as propped up their unsustainable country.

Even in actual trade, they shortchanged Africans so bad (like all foreigners) that there is no way that anything is owed.

THEY OWE AFRICA. The same way Europe and the US owes Africa. Africa gave these countries their wealth AND sustains their backwards, wasteful, regressive lifestyle.

I endorse your message.

Yet above all, we owe ourselves the intellect to create, the willpower to produce and the honesty to build in our best interest.

2 Likes

Re: Nigeria Gets Debt Relief From China, G-20 by Nobody: 9:08pm On Apr 17, 2020

ignis:
No matter the debt relief granted Nigeria, we can never be debt free under this current government.

The more the debt relief comes, the greater the borrowing capacity and tendency to borrow more and use it for frivolous irrelevant looting projects.

It's really sad that the country is being ruled by locusts, termites and caterpillars.

Re: Nigeria Gets Debt Relief From China, G-20 by uncleinans(m): 9:09pm On Apr 17, 2020

Nigerians dull ehh. This is not debt relief but having patience with us to focus on Coro instead of servicing our debt. We don't read to understand I swear. Plenty dull people for nairaland

2 Likes

Re: Nigeria Gets Debt Relief From China, G-20 by AUSVINS(m): 9:09pm On Apr 17, 2020

rusher14:
Shouldn't you be happy your country got debt relief?

You hate the government more than you love yourself.

What a tragedy.

Some people out of pure hatred for PMB will never want to hear any good news about Nigeria.

1 Like 1 Share

Re: Nigeria Gets Debt Relief From China, G-20 by nextstep(m): 9:11pm On Apr 17, 2020

rusher14:
And what exactly is wrong with borrowing ?

In principle, borrowing to buy productive assets has always been good.
In Nigeria, borrowing has rarely boosted productivity. In fact we end up paying more to service the debt than what we borrowed, plus we didn't see th productivity gains.

For example, most countries borrow to increase their production of goods and services. We borrow to buy already produced goods (liabilities) and not the means of production (assets). At the end of the day the value-add is taken back by the countries that made the finished goods that we consumed, and we're left with a depreciated liability. Countries may borrow to build a steel plant that will make more money for them. Nigeria borrows to buy the outputs of somebody else's steel plant.

I'm not even going to discuss the fact that the funds are looted. Even if you used 100% of the borrowed funds, but to buy consumables instead of productivity, you're not moving forward.

1 Like

Re: Nigeria Gets Debt Relief From China, G-20 by uncleinans(m): 9:13pm On Apr 17, 2020

mekaboy:
Okonjo iweala to the rescue again.

Read to understand first before you praise someone for nothing. Nigeria will still pay her debt later. White man will never dash you anything or give you anything for free.

Re: Nigeria Gets Debt Relief From China, G-20 by kingsvictor2: 9:13pm On Apr 17, 2020

Garrieveryday:
OK. Nice

Pardon me everyone. Just a little assistance I need from you to enable me have what to eat and survive under this lockdown. It's understood this has affected everyone and your little resources are depleting but any amount dropped in this account will be so much appreciated.

3351.0.97274 - Ecobank

God bless.

why do u guys fail to add ur account name, are u ashamed

Re: Nigeria Gets Debt Relief From China, G-20 by Sarah20A(f): 9:13pm On Apr 17, 2020

rusher14:
Shouldn't you be happy your country got debt relief?

You hate the government more than you love yourself.

What a tragedy.

why should I be happy when the borrowed money was never used for its purpose?
Why should I be happy when the debts relief adds no value to my life or the lives of the ordinary citizens ?
There will be nothing like average in this country very soon..either you are rich or poor, high or low.

1 Like

Re: Nigeria Gets Debt Relief From China, G-20 by nextstep(m): 9:14pm On Apr 17, 2020

rusher14:
Shouldn't you be happy your country got debt relief?

You hate the government more than you love yourself.

What a tragedy.

This is not relief (as in cancellation/reduction which OBJ was able to secure).
This is a forbearance (as in payments are suspended, but will resume in the near future).

I don't have to point out that "the borrower is slave to the lender", and we wouldn't have needed forbearance/relief if there was no debt in the first place.

1 Like

Re: Nigeria Gets Debt Relief From China, G-20 by MansoryMX(m): 9:15pm On Apr 17, 2020

rusher14:
Shouldn't you be happy your country got debt relief?

You hate the government more than you love yourself.

What a tragedy.

You are talking in nonsense! How can a country borrow money from another country for the purpose of bettering the life of her citizens, only for the money to be looted. Ar...are....areeee you normal?

1 Like

Re: Nigeria Gets Debt Relief From China, G-20 by Ferrous(m): 9:15pm On Apr 17, 2020

Maybe, we can also say - this is the positive side of this pandemic

Re: Nigeria Gets Debt Relief From China, G-20 by Nobody: 9:16pm On Apr 17, 2020

Cousin9999:
Let me tell you something right now.

No African nation owes those thieving, lying parasites anything.

They've stolen up to trillions in resources. They've capitalized on those resources in the international market as well as propped up their unsustainable country.

Even in actual trade, they shortchanged Africans so bad (like all foreigners) that there is no way that anything is owed.

THEY OWE AFRICA. The same way Europe and the US owes Africa. Africa gave these countries their wealth AND sustains their backwards, wasteful, regressive lifestyle.

International finance doesn't work that way.
Balance of trade is said to be healthy when revenues from exports is more than expenditures on imports. In the case of Nigeria, we import everything and earn almost nothing from exports. Apart from crude oil, that is. The earnings from crude could have built an alternative to our oil-driven mono economy, but while Dubai has transformed a desert, we are busy degrading a paradise.

1 Like

Re: Nigeria Gets Debt Relief From China, G-20 by uncleinans(m): 9:17pm On Apr 17, 2020

Dre555:
China the next world power. Someone should help me tell USA that their time is almost up.

Lol. Very funny, greedy China next world power? China that is begging USA not to cut her funding to WHO is next world power? Please read wide so you dont spill trash like this

Re: Nigeria Gets Debt Relief From China, G-20 by rusher14: 9:17pm On Apr 17, 2020

MansoryMX:
You are talking in nonsense! How can a country borrow money from another country for the purpose of bettering the life of her citizens, only for the money to be looted. Ar...are....areeee you normal?

Ask yourself if Chinese loans can be stolen if they are tied to projects the chinese themselves have to build.

I wont descend to your level.

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