Will African nations ever be able to repay their debt? | Counting the Cost
Will African nations ever be able to repay their debt? | Counting the Cost
Africa is a continent rich in natural resources with a young population. African nations in theory have the potential to transform their economies. But many of them are facing mountains of debt.
Africa’s external debt climbed to more than $650bn last year.
More than half of African countries are either in debt distress or teetering on the…
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How many times has Argentina defauted on its debt and now the IMF has given them even more money.
This boogy man of African debt is a joke, the creditors have bottemless pockets so just default Africa, and use the money to build education, healthcare, infrastucture ( renewable energy , waste-to-enegy, battery storage and grid scale storage , sewage systems and water treatment and farming. Cold storage , eldctric vehicles ( i.e cars, vans, trucks, semis etc etc) enegy efficient buildings and low energy consumer goods such as white goods and brown goods and low energy lighting and cooling such as groud source and air source heat pumps. All these technology is now mature and cheap but our poirians as usual have been corrupted and bought off by fossile fuel companies and interests .
Also reduce taxes on business and consumers.
This will put a massive boost under African growth and, given the above, will be sustainable growth.
Nobody can repay their debts today. Debt is "money". Created out of thin air by private banks.
"Proverbs 22:7 KJV The rich ruleth over the poor, And the borrower is servant to the lender."
Maybe or maybe not. The big question is was the debt fairly obtained or legal.
Nigeria has paid it debts. Stop Africa and use individuals countries.
Europe need to repay the whole continent..Love an support to the mother land from the USA..Everything is coming out now..
They all owned by China nowadays !!! tee hee hee, the new colonial masters
Who really owes who here?🤔
What about the US debt?
😗
The real question is, will Western nations ever return the stolen wealth or reparations for the enslaved peoples.
Burkina Fasso already paid off their dept.
How someone stronger than you slap you and crying at the same time is that stupidity or thinking about the weakness of the guy that you slap him thinking he is stupid
No it won't cause any crisis. Africa is rich. We can survive if only we align our policies.
The very concept of lending money at cheaper rates was the core – so that Africa developes and western countries benefit – so Borrowings are not expensive – it is all stolen in Kenya 🇰🇪
economics doesn't work when thieves are running the countries
ups world is on fire
Borrowing are at ver low interest rates – it is Africa psych not to repay
where does all these borrowing go – into pockets of politicians who are richest without any business accumen
Debt ? to who Africa has been pillaged for its resources for hundreds of years
Africans are all thieves – they bite the hand that feeds – all leaders pocket the borrowing and expect people to pay – Nigeria 🇳🇬 has oil and yet to very poor and mismanaged everywhere – same work SouthAfrica – Kenya 🇰🇪
India and Africa is about to be the worlds playground again if the don’t do something
Yes they can if you stop looting them
They can repay if they adopt Bitcoin now
I've lost all care earlier today, many Africans and their leaders simply can't change, wise up, or help themselves by continuing to make mistakes that put them there in the first place, like procreating and electing poor leaders, which is why we were in so much debt. Dumb people lead to dumb leaders, and dumb leaders lead to dumb mistakes. The cycle only repeats itself, and old habits never die.
African nations are not the only ones with debts.
Why not when we have all the resources, we need more Traores# viva Africa
I'll never figure out why the west keeps lending money to corrupt countries. They know it's going to be stolen anyways – so why keep lending ?
Problem with African countries is that they borrow money to do infrastructure, Health, Social issues. These are not return generating activities. These must be paid by taxpayers money. So if you borrow money to do infrastructure, Health, Social issues, you cannot payback the debt because it is not generating enough return. Also most of the money is siphoned off through exploitative contracts which created which creates few rich people and money which should have never borrowed in the first place never achieves the purpose either.
😊😊😊😊😊😅😅😅😅😅😂😂😂😂😂😂 african countries paid all debts
What debt? Africa owes no one anything, it's even the other way around lol
I don’t think they intend to, in next 7 years world’s debt clock will get reset may be led by USA, the way they led the race to create this debt.
Please Seen Really Global 🤟
How many Debt of U.S UK. EU non EU having to day AFRICA Have Debt Can be But They all Have Their Good Situations also in the Future 3:24 👍🫶🌎🍃🍃🍃🍃🍃🍃🍃👍👍👍 Good Post but I don't Said this is News 😊 4:18
Isn't the US's debt to gdp ratio more than 100%(its like around 122% if I am not mistaken) more than a lot of African countries. Even Japan has a high debt to gdp ratio, I think the third highest in the world. So why are we not talking about them then?😅. Now I am not saying having debt as a country is a good thing but most countries run on debt even powerful ones, it just depends on how that country manages that debt.
Not until they stop licking European and American bummies
will the west ever pay Africa back what they have been stealing for over 400 years.
such a propaganda, again the whole story is not told completely
Yt people shut Africa out of the global economy due to their horrible racism forcing them to borrow now claiming they should repay even though they don’t repay.