Won't Be Able to Repay China Even if We Sell Our 'Grandmother's Jewellery': Ex-Maldivian President

[大汉奸柳传志]

It's called a debt trap.
Expect a 99 year lease of their land in the near future.

well in that case when will we get a lease on Hawaii or Alaska?

 

[Microsoft]

Indians are so generous I love the concern they have of their neighbors' debts. Very heart warming

 

[RealNapster]

It's called a debt trap.
Expect a 99 year lease of their land in the near future.

They don't have any land to lease out

 

[xyxmt]

should ask India for help, their COVID-19 budget is bigger than Pakistan's total budget

 

[S10]

If I make only $5000 USD a month and I took out a $10 million dollar mortgage, can I go to the bank and said they tricked me with "debt trap"? These countries willingly took the loans and agreed to the terms of the deal. Nobody put a gun to their heads. You know why only China was willing to lend them money? Because none of the Western lenders are willing to step up.

Countries complaining about being held in a debt trap should definitely try their luck elsewhere for money. Western countries complaining about debt trap should offer better loans than bitching and moaning.

 

[bshifter]

Americans also need to learn the fact that China bailed the US out in 2008. Another debt trap? Why did the US take it? Why no media blew this news out of proportion?

 

[Microsoft]

If I make only $5000 USD a month and I took out a $10 million dollar mortgage, can I go to the bank and said they tricked me with "debt trap"? These countries willingly took the loans and agreed to the terms of the deal. Nobody put a gun to their heads. You know why only China was willing to lend them money? Because none of the Western lenders are willing to step up.

Countries complaining about being held in a debt trap should definitely try their luck elsewhere for money. Western countries complaining about debt trap should offer better loans than bitching and moaning.

Although I don't agree with your analogy...In the US kind of, they do an inquiry into your credit history and if it looks like you'll be unable to repay it then you don't get the loan. This is the reason for the 08 financial crisis here.

 

[Viva_Viet]

If I make only $5000 USD a month and I took out a $10 million dollar mortgage, can I go to the bank and said they tricked me with "debt trap"? These countries willingly took the loans and agreed to the terms of the deal. Nobody put a gun to their heads. You know why only China was willing to lend them money? Because none of the Western lenders are willing to step up.

Countries complaining about being held in a debt trap should definitely try their luck elsewhere for money. Western countries complaining about debt trap should offer better loans than bitching and moaning.

If u make only $5000 USD a month and u took out a $10 million dollar mortgage, then u only can borrow money from Loansharks.

And we all know Loansharks r bad guys,doing illegal business. So, u admit that CN is a bad guy Loanshark ??

 

[cgy]

CN is too bad, they make many nations get angry, thats why 1998 Hoa massacre happened.

Vietnam's leaders in 1979 were as cheap as you were, and the result was that Vietnamese men became roadside fertilizer

If u make only $5000 USD a month and u took out a $10 million dollar mortgage, then u only can borrow money from Loansharks.

And we all know Loansharks r bad guys,doing illegal business. So, u admit that CN is a bad guy Loanshark ??

Do you mean Maldives, India and Vietnam ask countries that borrow money from the aiib to be rogues who want to borrow and not pay back?We all know what China did to Vietnam , this ungrateful rascal in 1979. We can do it again if you like

 

[shanlung]

well in that case when will we get a lease on Hawaii or Alaska?

Get a lease on White House and turn that to be an Emporium for Made in China products

 

[S10]

If u make only $5000 USD a month and u took out a $10 million dollar mortgage, then u only can borrow money from Loansharks.

And we all know Loansharks r bad guys,doing illegal business. So, u admit that CN is a bad guy Loanshark ??

Your monkey brain do know that loan sharks charge incredibly high interests right? China offers loans at half or lower interest rate than IMF or World Bank, without any political string attached. That's what makes China such an attractive lender. It's the opposite of being a loan shark.

Maybe look up your monkey dictionary before you post next time.

 

[Viva_Viet]

Your monkey brain do know that loan sharks charge incredibly high interests right? China offers loans at half or lower interest rate than IMF or World Bank, without any political string attached. That's what makes China such an attractive lender. It's the opposite of being a loan shark.

Maybe look up your monkey dictionary before you post next time.

Bcs u r idiot, so u dont know that new kind of loansharks liek CN only charge high interests for small borrowers while very low interest for big borrowers like a Govt of a nation that can not borrow money from World bank bcs that nation have something CN want, like Sri kanka port.

Stop cheating, fooling poor ppl. Dont make ppl hate CN more and do more 1998 Hoa massacre. U guys should ask yourself while No 1998 White massacre but Hoa ( Cnese and Cnese ethnic)

 

[S10]

Bcs u r idiot, so u dont know that new kind of loansharks liek CN only charge high interests for small borrowers while very low interest for big borrowers like a Govt of a nation that can not borrow money from World bank bcs that nation have something CN want, like Sri kanka port.

Stop cheating, fooling poor ppl. Dont make ppl hate CN more and do more 1998 Hoa massacre. U guys should ask yourself while No 1998 White massacre but Hoa ( Cnese and Cnese ethnic)

So you have no comeback other than monkey screech? China offers lower interest rate loans than IMF and World Bank, while not attaching any political condition. Why do you think countries prefer China if we're so bad.

Honestly a monkey probably would have typed a more coherent response. That explains why Monkeynam has lower GDP than a large city in China.

 

[vishwambhar]

Won't Be Able to Repay China Even if We Sell Our 'Grandmother's Jewellery': Ex-Maldivian President
© AP Photo / Manish Swarup
ASIA & PACIFIC
10:40 GMT 18.11.2020
US Secretary of State Mike Pompeo paid a historic visit to the Maldives last month, announcing the opening of an American Embassy in the island nation. Pompeo's visit followed the finalising of the Maldives-US defence pact, which observers say is part of Washington's strategy to check Beijing's influence in the country.

Former Maldivian President and Parliamentary Speaker Mohamed Nasheed has criticised the high debt the island nation owes to China, as his country's government finalised the annual budget on Wednesday.

"Discussing (the) 2021 budget in Majlis today. Debt repayments next year will amount to 53% of government revenue. Over 80% of debt repayments will go to China. Totally unaffordable. Even if we sell our grandmother's jewelry, we won't be able to afford these repayments", said Nasheed on Twitter.

The tweet comes against the backdrop of the Indian Ocean country emerging from an economically taxing COVID-pandemic, which the World Bank estimated earlier this year could hit Male harder than other regional economies.

Nearly 70 percent of the nation's revenue flow from tourism was crippled as international air traffic was hit due to lockdowns in other countries.

In an interview with the BBC last month, Nasheed estimated that the Maldives owed nearly $3.1 billion to Beijing, most of it loaned during the tenure of the previous government headed by former President Abdulla Yameen. The nation's overall GDP was valued at just over $5.3 billion in 2018, as per the World Bank.

Chinese officials, however, have in the past claimed that Male owed over $1 billion to China, most of the money loaned to Male is in the form of government-to-government loans, private loans guaranteed by the Maldives government via "sovereign guarantees", and funds disbursed to Maldivian state enterprises.

The $200 million Maldives-China Friendship Bridge is one of the showcase infrastructure projects built by Beijing on the strategically-located island archipelago in the Indian Ocean.
Anand Kumar, an associate fellow at the New Delhi-based think tank Manohar Parrikar Institute for Defence Studies and Analyses, told Sputnik that a unique situation existed in the Maldives, where the "creditor was demanding less money than what the debtor estimated".

"The former president (Yameen) is said to have taken loans from China to fund private projects owned by some of his cronies. He had in fact taken loans for these projects in return for sovereign guarantees", said Kumar, who has also authored a book titled "Multi-party Democracy in the Maldives and the Emerging Security Environment in the Indian Ocean Region".
The Maldives Democratic Party (MDP), which Nasheed heads, returned to power in 2018. Ibrahim Mohamed Solih, a party colleague of Nasheed, assumed the presidency after MDP's triumph.
In the lead-up to the 2019 vote, the MDP had campaigned extensively on the issue of rising foreign debt, as it attacked the then-president for his reliance on foreign capital.

https://sputniknews.com/asia/202011181081199664-wont-be-able-to-repay-china-even-if-we-sell-our-grandmothers-jewellery-ex-maldivian-president/

Why everyone is falling for Chinese debt trap.... Sri Lanka experience should have been eye opener.... Kenya too.....

Americans also need to learn the fact that China bailed the US out in 2008. Another debt trap? Why did the US take it? Why no media blew this news out of proportion?

USA is totally totally a different thing..... debt trap can be fatal for weaker, poor countries only not for something like USA......

 

[bshifter]

Why everyone is falling for Chinese debt trap.... Sri Lanka experience should have been eye opener.... Kenya too.....


USA is totally totally a different thing..... debt trap can be fatal for weaker, poor countries only not for something like USA......

Very fatal

India top recipient of US economic aid - Times of India

US News: India has been identified as the largest recipient of U.S economic assistance over a 66-year period in inflation-adjusted dollars although Washington'

timesofindia.indiatimes.com