36
I genuinely feel like America bombing the hell out of so many countries in Africa just naturally would endear those countries to anyone except America and their Western vassals, but apparently a lot of twitter users can't seem to comprehend that.
Is whatever debt these countries incur worse than the IMF? Are the consequences anywhere near as bad?
I usually like to start from the position that the leaders of these countries know what they're doing (something Western twitter users don't), so I personally doubt it's anywhere near as bad as people claim, and no matter how bad it is, I don't believe for a moment it could be as bad as the IMF.
https://medium.com/collapsenews/of-africas-total-debt-only-about-8-was-owed-to-chinese-entities-with-most-owed-to-the-west-45e4ac38f474
No paywall link: https://www.freedium.cfd/https://medium.com/collapsenews/of-africas-total-debt-only-about-8-was-owed-to-chinese-entities-with-most-owed-to-the-west-45e4ac38f474
The IMF has been forcing African countries to cut public spending and privatize industries since the 1980s, crumbling healthcare centers and education sectors.
Western-backed projects are left half-finished of crumbling within years, but countries still have to pay back debts.
Eurobond interest rates can be up to 16% for African countries, while Western countries pay 1%.
Western oil companies spill more oil in Nigeria every year for the past 50 years, than the Exxon Valdez disaster.
China holds 8% of Africa's total debt, but has been FORGIVING INTEREST FREE loans. "China debt trapping" is a classic case of western powers deflecting their own sins onto others.