Bangladesh’s finance minister warns on loans from China

[bluesky]

BD will be just fine as it's foreign reserves have stablised and the FM is just saying that Chinese loans may not be suitable for everyone.

Watch the video link below to learn BD reserves may be below $11 billion. Why do you propagate for the BAL party? Are you not a patriot? It seems instead of patriotism you always parrot BAL lies.

 

[S10]

Nobody forced them the take out the loans.

"It's all China's fault! They gave me the money when nobody else wanted to and now I wasted it."

 

[bluesky]

Nobody forced them the take out the loans.

"It's all China's fault! They gave me the money when nobody else wanted to and now I wasted it."

In Japan, I saw the old type of loanshark who would extend a loan without asking you any difficult questions. But, when you default in repayment, the loanshark would send Hooligans to your house to threaten your family.

Finally, a day comes when they come to seize your daughters. The daughters will then be sold to brothels from where the loanshark is repaid from their earnings day and night.

The world thinks that China is a modern-day loanshark at the international level. China takes advantage of other countries' difficult situations and lures its leaders to take loans at high-interest rates.

Do you think it will continue long?

 

[S10]

In Japan, I saw the old type of loanshark who would extend a loan without asking you any difficult questions. But, when you default in repayment, the loanshark would send Hooligans to your house to threaten your family.

Finally, a day comes when they come to seize your daughters. The daughters will then be sold to brothels from where the loanshark is repaid from their earnings day and night.

The world thinks that China is a modern-day loanshark at the international level. China takes advantage of other countries' difficult situations and lures its leaders to take loans at high-interest rates.

Do you think it will continue long?

Maybe don't take a loan if you have no ability to pay it back? Or don't squander the loan with corruption and wasteful spending? Just a thought. It's a goddamn loan, not free money. The terms of repayment and default are known to you from the start. If you don't pay the bank back, there are penalties involved. China wants natural resources and port access, not your starving useless daughters.

You post is literally the embodiment of "It's China's fault". Take some responsibility for your own mismanagement for once. Maybe that's why IMF and World Bank won't lend you money in the first place.

 

[bluesky]

Maybe don't take a loan if you have no ability to pay it back? Or don't squander the loan with corruption and wasteful spending? Just a thought. It's a goddamn loan, not free money. The terms of repayment and default are known to you from the start. If you don't pay the bank back, there are penalties involved. China wants natural resources and port access, not your starving useless daughters.

You post is literally the embodiment of "It's China's fault". Take some responsibility for your own mismanagement for once. Maybe that's why IMF and World Bank won't lend you money in the first place.

China is a country where Confucius (孔子先聖) was born and taught many things to its people.

Greed for regional dominance has blurred the vision of your communist leaders and the teachings of Confucius forgotten.

 

[Wergeland]

lol there is a UK guy high on his horse thinking everybody in this world has a duty to learn speaking and writing english.

Ahhahhah.

 

[SoulSpokesman]

@bluesky @UKBengali

All the developing countries to whom PRC has sold their projects and given usurious loans should collectively expropriate these assets and repudiate the loans as having been lent fraudulently. I am sure clever lawyers like my dear friend Yasser Latif Hamdani can easily win the case for developing countries in International Courts.

Regards

 

[Wergeland]

I told people US and India plan to squeze out Chinese influence from BD.

BD asks for Chinese loans one day, and calls it debt trap next day. What a silly finance finister, IF the report is not FAKE NEWS .

 

[K_Bin_W]

I told people US and India plan to squeze out Chinese influence from BD.

BD asks for Chinese loans one day, and calls it debt trap next day. What a silly finance finister, IF the report is not FAKE NEWS .

This debt trap is the biggest garb and BS of all time, eg. Only 10% of SL debt is Chinese, yet you hear China destroyed SL.... LOL....

 

[bluesky]

To: @S10 of Great China

Note that I am categorically not against seeking loans from China to construct BD infrastructure projects.

For a proper understanding, I will cite here the JICA-financed Dhaka metrorail project. It is an essential project and the investment money will be returned without flaws because this rail system will be used every day by the Dhaka commuters.

Similarly, China has offered to build an Expressway from Dhaka to Chittagong. There are too many vehicles plying over the existing road. I believe an Expressway will be fully utilized and the investment money will be returned from the Tolls at the gates. So, I will support this kind of project.

Now, about another project, a 215 km long railway construction project over the Padma Bridge. This project will cost more than Tk40,000 crore or $4.7 billion in total. It is not an appropriate project because the railway itself is controlled by corrupt govt people and very few people would use the system.

Padma bridge rail link project costs set to rise

The Padma Bridge Rail Link Project is likely to see a further increase in its cost following a proposed extension in consultancy services, said officials. The consultancy services provider of the project on Monday submitted a proposal to the...

www.newagebd.net

In my personal opinion, China should refuse to finance and build this kind of money-losing project. Most of the project money will be stolen by the BAL party and the govt bureaucrats.

Note also that money stolen from the Chinese projects are the main cause of corruption in BD.

 

[S10]

China is a country where Confucius (孔子先聖) was born and taught many things to its people.

Greed for regional dominance has blurred the vision of your communist leaders and the teachings of Confucius forgotten.

You borrow money, and you pay back money. That's not dominance. It's called responsibility. You should learn some. Confucius didn't say you can receive free money.

To: @S10 of Great China

Note that I am categorically not against seeking loans from China to construct BD infrastructure projects.

For a proper understanding, I will cite here the JICA-financed Dhaka metrorail project. It is an essential project and the investment money will be returned without flaws because this rail system will be used every day by the Dhaka commuters.

Similarly, China has offered to build an Expressway from Dhaka to Chittagong. There are too many vehicles plying over the existing road. I believe an Expressway will be fully utilized and the investment money will be returned from the Tolls at the gates. So, I will support this kind of project.

Now, about another project, a 215 km long railway construction project over the Padma Bridge. This project will cost more than Tk40,000 crore or $4.7 billion in total. It is not an appropriate project because the railway itself is controlled by corrupt govt people and very few people would use the system.

Padma bridge rail link project costs set to rise

The Padma Bridge Rail Link Project is likely to see a further increase in its cost following a proposed extension in consultancy services, said officials. The consultancy services provider of the project on Monday submitted a proposal to the...

www.newagebd.net

In my personal opinion, China should refuse to finance and build this kind of money-losing project. Most of the project money will be stolen by the BAL party and the govt bureaucrats.

Note also that money stolen from the Chinese projects are the main cause of corruption in BD.

It is your country's decision on how to use the loan. China only cares whether you pay it back or not.

 

[SoulSpokesman]

@SD 10

It is your country's decision on how to use the loan. China only cares whether you pay it back or not.

Agreed. It is not China's decision as to how BD utilises its loans. And it is BD's decision whether to pay back the loan or not.

@bluesky

Neel Akash Dada,

Similarly, China has offered to build an Expressway from Dhaka to Chittagong.

You should be careful about it. Projects built up by Chinese come with too many strings attached. They use their own labour, own equipment and raw material. They give gigantic feedbacks to govt officials. This causes project cost to shoot up and become unviable. And then you wont be able to pay back the loan.

Regards

 

[Bengal71]

Likely balancing act, US foreign secretary is also due in Dhaka soon or he visited already? The government probably already discussed with Chinese FM Wang Yi that they will have to say something like this.

 

[bluesky]

You borrow money, and you pay back money. That's not dominance. It's called responsibility. You should learn some. Confucius didn't say you can receive free money.


It is your country's decision on how to use the loan. China only cares whether you pay it back or not.

You are playing the same broken record. No use in talking with an imbecile like a businessman like you. I like to think politically and you think like a businessman.

 

[S10]

You are playing the same broken record. No use in talking with an imbecile like a businessman like you. I like to think politically and you think like a businessman.

If paying back your loan is too much for you, then perhaps you don't deserve any money in the first place. Take your choosy beggar *** to IMF or World Bank instead and see how willing they are to lend you money.

@SD 10

It is your country's decision on how to use the loan. China only cares whether you pay it back or not.

Agreed. It is not China's decision as to how BD utilises its loans. And it is BD's decision whether to pay back the loan or not.

Sure, if you decide not to pay, then we will take the collaterals you put up to secure that loan. I'm pretty sure it's all specified in the contract. That's life, tough shit.