• Anarcho-Bolshevik
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    32 years ago

    If I remember correctly, the PRC is actually in the habit of forgiving Afrasian debts, somewhat like how the USSR was quick to forgive Poland’s debt during the 1940s. It seems odd that the PRC would try to entrap nations that were already entrapped to begin with anyway, but maybe I’m oversimplifying the matters there.

    • All the time, yeah. During 2020 because of covid they froze and forgave billions in debt.

      There are concerns that this overreliance on loans may cause another debt crisis like we saw in the 90s (Gyude Moore talks about it for example) but definitely Chinese loans offer much better deals than the IMF in general. Longer repayment terms, lower interest rates, the possibility as well to join the BRI and get some much needed infrastructure built… they would rather be self-reliant, but between the two the question does not even come up.

  • Camarada Forte
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    22 years ago

    by forces who do not want to see rapid development in Africa.

    You just missed one word, but it happen to be an important one lol