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How bad is the debt people talk about of African countries incurring with China? (hexbear.net)

submitted 1 month ago by [email protected] to c/[email protected]

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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.

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[–] [email protected] 20 points 1 month ago (4 children)

https://data.one.org/topics/african-debt/

shrug-outta-hecks

[–] [email protected] 7 points 1 month ago (2 children)

Bruh I'm a bit dim, I can't parse this info all that well (although thank you for the link)

[–] [email protected] 9 points 1 month ago* (last edited 1 month ago) (1 children)

private bondholders (your local vulture funds) hold 180 bln, while china holds 65 billion (85 together with private chinese banks or around 14 percent of the total). Thats all ignoring imf and others

So saying its chinese debt trap is like saying your credit card is sinking you while you have mortgage.

[–] [email protected] 5 points 1 month ago

Ah, thank you

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