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Chinese attitude to Indebtedness is the HARDEST in the world. I know, because one had to deal with it in the course of my work @ the World Bank, helping African countries to get the HIPC Debt Cancellation.
It ANNOYS ME TO NO END to see our countries BINGING on Chinese Loans.
It ANNOYS ME TO NO END to see our countries BINGING on Chinese Loans.
Most annoying of this latest round of RISING SCALE of Public Debt by countries of the continent is that the politicians are behaving EXACTLY like the ones who PILED UP DEBTS in the 80s & 90s.
“Just sign up for plenty Loans...forget about imperatives of Debt Sustainability.” KAI!!
“Just sign up for plenty Loans...forget about imperatives of Debt Sustainability.” KAI!!
The Chinese KNOW EXACTLY what they are doing. If you read their Loan Agreements with African countries, you will see how TIGHT they cover their exposure. Meanwhile, our own Leaders go there to naively, gleefully and with huge dose of inferiority complex, sign on to BAD DEALS.
