Japan to help African countries escape China's "debt trap"

[DoTell]

It's like the Indians to help Africans build toilets, reduce rape crimes or increase their IQ's. Will pigs fly?

 

[vishwambhar]

Great initiative taken by Japan....

 

[Vortex]

Japanese should help africans countries to escape from the western debt trap first.

Remember that first debt of Africans is due to money they have to reimburse westerns. Debt they couldn’t reimburse because of skyrocketing interest rates, which pushed them to apply for more debt just to repay the interests part !

Thank you Japan. French people who visite Japan told me that Japan is one among the worst racist country !

 

[Yaoudelizard]

Come be cu cks like us for the Americans is what they are saying.

 

[etylo]

Africans should get out the evil Japanese and West's traps indeed.

 

[K_Bin_W]

Show up with the money then.

Bottom line, rest is all noise and besides Japs are in no position.

 

[8888888888888]

New report discredits popular narrative, reveals how African countries are three times more indebted to Western firms than to Chinese lenders​

New report discredits popular narrative, reveals how African countries are three times more indebted to Western firms than to Chinese lenders

African countries are three times more indebted to Western firms than to Chinese lenders

africa.businessinsider.com

A new report by Debt Justice has shown that many African countries owe three times more debts to West banks, oil traders and asset managers than they do to Chinese lenders.

The report also revealed that these Western firms charge African countries double the interest rates, compared to their Chinese counterparts.

The revelations have questioned long-standing narrative/belief that many African countries are more indebted to the Chinese. Recall that this is the same excuse Western leaders have repeatedly used to justify their lack of commitment to restructure debts for African countries.

In the report which was seen by Business Insider Africa, Debt Justice's Head of Policy, Tim Jones, was quoted to have said:

“Western leaders blame China for debt crises in Africa, but this is a distraction. The truth is their own banks, asset managers and oil traders are far more responsible but the G7 are letting them off the hook. China took part in the G20’s debt suspension scheme during the pandemic, private lenders did not. There can be no effective debt solution without the involvement of private lenders. The UK and US should introduce legislation to compel private lenders to take part in debt relief.”

Using available World Bank data to calculate the disparities between African countries' Western and Chinese loan exposures, the report was able to establish the following:

• Only 12% of African countries' external debts are owed to the Chinese.
• On the other hand, 35% of African countries' external debts are owed to Western lenders, specifically private firms such as the afore-mentioned.
• These private lenders charge the highest interest rates of 5%, compared to 2.7% interest rate charged by the Chinese and 1.3% interest rate by multilateral lenders such as the IMF and the World Bank.
• Many African countries with the highest public debt burdens actually have very little loan exposures to the Chinese.
• 24 African countries who spend more than 15% of their revenue on debt servicing actually have their "median average of debt payments by creditor grouping" at 11% to the Chinese, compared 32% to Western private lenders.

Debt Justice, which is a global campaign group, said it chose to release the report ahead of the G20 Finance Ministers taking place later this week, as part of efforts urging Western Governments to compel private lenders to partake in the G20's debt relief scheme "the Common Framework". Business Insider Africa understands that no African countries have received any debt relief under the framework, even though some applied.

 

[Beast]

It's like the Indians to help Africans build toilets, reduce rape crimes or increase their IQ's. Will pigs fly?

Including India offer to help Africa eradicate open defecation and drink cow piss problem.

 

[Beast]

Hello beast, may I ask you why I have 4 pings from you running tracerts at me?
You access my 4 posts on here and suddenly I get 4 tracers?
Your opinion is Falun gong?
Let’s hear about it all.

U want to hear the truth or some fantasy that suit your ears only?

 

[Beast]

Lets start with truth..

 

[libertad]

These countries never cared about Africa. They industrialized decades before China and could have invested/lent there and secured dominant influence in the continent. They didn't. China did. Now that China is influential there, they start talking about 'saving' Africa from China's 'debt trap'

 

[Menthol]

Lol

How does Japan do it?


To be honest, logically, if borrowing money with low interest rate (China) is bad, then it's even wrong to choose the higher interest rate debt.


Hey, maybe Japan's solution is FREE MONEY to whoever needs it?

FREE MONEY...

New report discredits popular narrative, reveals how African countries are three times more indebted to Western firms than to Chinese lenders​

New report discredits popular narrative, reveals how African countries are three times more indebted to Western firms than to Chinese lenders

African countries are three times more indebted to Western firms than to Chinese lenders

africa.businessinsider.com

A new report by Debt Justice has shown that many African countries owe three times more debts to West banks, oil traders and asset managers than they do to Chinese lenders.

The report also revealed that these Western firms charge African countries double the interest rates, compared to their Chinese counterparts.

The revelations have questioned long-standing narrative/belief that many African countries are more indebted to the Chinese. Recall that this is the same excuse Western leaders have repeatedly used to justify their lack of commitment to restructure debts for African countries.

In the report which was seen by Business Insider Africa, Debt Justice's Head of Policy, Tim Jones, was quoted to have said:

“Western leaders blame China for debt crises in Africa, but this is a distraction. The truth is their own banks, asset managers and oil traders are far more responsible but the G7 are letting them off the hook. China took part in the G20’s debt suspension scheme during the pandemic, private lenders did not. There can be no effective debt solution without the involvement of private lenders. The UK and US should introduce legislation to compel private lenders to take part in debt relief.”

Using available World Bank data to calculate the disparities between African countries' Western and Chinese loan exposures, the report was able to establish the following:

• Only 12% of African countries' external debts are owed to the Chinese.
• On the other hand, 35% of African countries' external debts are owed to Western lenders, specifically private firms such as the afore-mentioned.
• These private lenders charge the highest interest rates of 5%, compared to 2.7% interest rate charged by the Chinese and 1.3% interest rate by multilateral lenders such as the IMF and the World Bank.
• Many African countries with the highest public debt burdens actually have very little loan exposures to the Chinese.
• 24 African countries who spend more than 15% of their revenue on debt servicing actually have their "median average of debt payments by creditor grouping" at 11% to the Chinese, compared 32% to Western private lenders.

Debt Justice, which is a global campaign group, said it chose to release the report ahead of the G20 Finance Ministers taking place later this week, as part of efforts urging Western Governments to compel private lenders to partake in the G20's debt relief scheme "the Common Framework". Business Insider Africa understands that no African countries have received any debt relief under the framework, even though some applied.

If A is killing a person.

Then the murderer is B, the one who is passing by the crime scene.

Blame and arrest B, said by A.

 

[REhorror]

Agreed with the others.
The japanese should take care of their own falling economy first.