Is Africa Stuck in a Debt Trap?
Is Africa Stuck in a Debt Trap?
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Economies around the world are struggling with high inflation and interest rates, and while there has been some relief in Europe and the US, in much of the developing world, especially in Africa, the economic instability…
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Is Africa Stuck in a Debt Trap? Of course it is… and that's unfortunately by design. And it's not just the old colonial powers, it all of the larger and emerging powers.
Yet China is their ally remember Akon city 🤷♂️
Really love and appreciate that disclaimer!
Ummmmnnn. It's not so simple.
Japan is highly develop and yet has a public debt to gdp of 263%, the US debt to gdp is 130% and is flying off the handle. It will reach at lest 150% by the end of the next legislature (regardless of who wins)…
Yet people are overly concerned with Africa's debts… Africa has countless unexploded resources and underdeveloped economies that have the potential to grow above 10% per year with a growing population and fast urbanization… I'm not worried about Africa.
If Nigeria and South Africa aren’t in big debt they need to get their governance in order, fix their countries and invest in the ones around them to fix the continent
Why are countries in crisis put under austerity measures? Isn't that exactly the opposite what a country actually needs?
5:12– Would love to see the source that backs climate change…no, it’s because they are unable to purchase or acquire fertilizer….come on man, that is a surface level answer.
1:06– that’s hilarious that you think China who has zero military projection has any say. All they can do is attempt to deal, US as all the leverage. At anytime the US can take away Chinas means of production and trade protection…China has nothing. But Biden is also the worst, so China will get a better deal then they should lol
Well his first statements were incorrect Europe and especially the US seem to be going in the direction of increasing the interest rates. First comments didn’t age well lol
I love how TLDR completely absolves the west of any responsibility of Africa's crises by omitting key historical events instigated by the west🤣
Whose bright idea was it to put notifications sounds in this
Maybe we should build with the things we've built rather than debt? Might make us more credit worthy in times of crisis and resilient to boom-bust cycles if we paced ourselves with the power of economic reality. That goes for the west even moreso than African countries.
More on African politics / economics please 👍
The usual doom and gloom of western media, I don't buy any of it. It's the same as the covid will wipe Africa out myth. It never happened.
a lot has to be attributed to centuries of colonial loot and the destruction of societies in Africa. And don't forget to mention the "Interest/Debt Trap" policies of IMF/EBw which are just a front for Western Hegemonic states/ruling class
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
Infrastructure has been great for Africa. Unfortunately, it's very expensive and can leave you saddled in debt.
Just listening to the intro, it's like deja vu all over again (an old joke for you youngsters out there).
African debt, and the debt of underdeveloped countries in general, has been a problem for decades. So has the political instability. The two go hand in hand. Moves by NGOs advocating the forgiveness of African debt have been around since the last millennium.
4:56 Minecraft metals lol
Nigeria isn’t one of the African countries, yet you use the images and clips in your reporting.