Are we heading for another developing world debt crisis?

[umbertino]

 

Western bank loans for projects in Africa were to be paid off via rising commodity prices. At least that was the theory …

 

 

Sun 14 Jan 2018 11.30 GMT

By  Larry Elliott

 

 

 

 

Newly built fishing vessels dock at Maputo in Mozambique. Scandal surrounds a $2bn loan for a tuna fishing fleet which has so far generated little or no revenue

Photograph: Adrien Barbier/AFP/Getty Images

 

 

 

 

 

 

 

 

 

 

 

https://www.theguardian.com/world/2018/jan/14/are-we-heading-for-another-developing-world-debt-crisis

[md11fr8dawg]

Yep, dumping money into another Sh_thole country with no accountability. And corrupt governments. Guess Trump was on to something. Looks like we will never learn. But hey $ grows on trees right!!

[blueskyline]

I think its 50/50 what the President might be doing . 1 , He is making an honest statement . 2, He is helping Africa to hide their coming Monetary Reforms .

http://www.news24.com/Africa/Zimbabwe/zim-piling-up-gold-diamonds-to-back-new-currency-vp-20170729.............

Zim piling up gold, diamonds to back new currency: VP

2017-07-29 11:00..........

Posted January 2

https://www.africanindy.com/business/zims-gold-plan-slated-9336623................

Zim’s gold plan slated.Plans by the Harare administration to use gold reserves to anchor the reintroduction of the much-derided Zim dollar have caused concern...

Posted December 2, 2017

https://www.voanews.com/a/somalia-months-away-from-new-currency/4059086.html.................

Somalia Months Away From Having New Currency...http://www.thezimbabwean.co/2017/12/trump-tells-mnangagwa-to-stop-using-us/.....The Donald Trump administration said Zimbabwe should get its own currency and stop relying on the United States Dollar.

[blueskyline]

I did not say buy Zim ! I said the President may be hiding Africa's coming Monetary reforms ..........

[bostonangler]

Are we heading for another developing world debt crisis?

 

Yup...

B/A