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29 Jul

THE LOOMING DEBT TRAP

China may be buying African Nations in exchange for loans / money and the African Leaders seem to be borrowing more:

Some examples:
In December 2018, China’s Exim Bank took over Uganda’s Major Airport. Chinese Language has also been introduced as a compulsory subject in their Secondary Schools.

Kenya on its own side is to give up its Sea Port to China as a result of its inability to repay loans taken.

In return for a 500 Million Dollar Loan given to leaders of Kenya, Uganda Somalia, Rwanda and South Sudan, China Gained farming rights over their territories .

In December 2017, the Sri Lankan Government lost its Hambantota Port to China for a lease period of 99 years after failing to keep up with the loan repayment in billions of dollars given to the leaders.

In December 12 2017, Zambia lost Kenneth Kaunda International Airport to China over failure of its leaders to debt repay the debt they took from China.
China also took over Zambia’s Airport, National Broadcasting Cooperation and ZESCO Power Plant in 2019

Now Nigerian leaders seem to be taking loans from the same China.

China Takes Over Zambia’s Airport, National Broadcasting Cooperation And ZESCO Power Plant

Isochukwu

Quite eccentric really

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