African countries are building a high-speed railway network that will link all African countries together, increasing trade and liberty.
  • fedfedfeddEnglish
    38·
    1 year ago

    African countries are foregoing Western investment because of the number of strings attached

    What strings?

    here’s a (very) competitive interest rate

    IMF loans are cheaper. Every person with two braincells will realize corrupt officials will take the chinese loans with higher interest rates because of the bribes. A 90 year maintenance contract is nonsense and you cant defend it.

    • zephyreks@lemmy.caEnglish
      91·
      1 year ago

      IMF and World Bank loans in years past have had strict rules regarding economic liberalization and cutting government spending.

      IMF loans are cheaper. Every person with two braincells will realize corrupt officials will take the Chinese loans with higher interest rates because of the bribes.

      [citation needed]

      • fedfedfeddEnglish
        27·
        1 year ago

        I like how you wont comment on the maintenance contracts.

            • zephyreks@lemmy.caEnglish
              3·
              1 year ago

              Rescue loans are not the type of loans being used to build these railway networks lol. It’s pretty funny watching someone not understand the problem they’re talking about.

              Also, the US fed rate is 5% right now… That means loaning money to the safest and most stable economy in the world pays 5% today. Even in your (misguided) context, 5% is a fucking bargain.

              • fedfedfeddEnglish
                15·
                1 year ago

                Rescue loans are not the type of loans being used to build these railway networks lol.

                Do you even know how IMF rescue loans work? Did you try Google buddy?

                I wont even entertain your dumbass ramble about different countries because we arent talking about that.

                • zephyreks@lemmy.caEnglish
                  11·
                  1 year ago

                  Great, so you neither understand project funding nor interest rates. Good to know.

                  • fedfedfeddEnglish
                    14·
                    1 year ago

                    so you neither understand project funding nor interest rates

                    You cant even provide facts. Stop arguing in bad faith. Now go schizo post about US loans.

    • maynarkh@feddit.nlEnglish
      2·
      1 year ago

      My home country has one of those loans, and I have no idea whether it’s beneficial or not since it’s classified for 30 years as is the Russian nuclear power plant contracts or the money we spend on our oligarchs.