Tanzania President cancels $10billion Chinese loan; Refers to the Terms and Conditions As One That C

[Nilgiri]

Lets pretend all the nonsense you spew are true. Yet all these African countries still continue to choose to get loans from China instead of India. Think about that.

Its like saying they are both in position to offer and its buyers market in Africa?

India is current account deficit country (so its largely focused funding that along with internal investing), it cannot muscle its way around with T-bill deployment like China can with its forex stockpile and related buffers that are a fundamental liability looking for routes to leverage on.

 

[That Guy]

So, where the heck are you reading the information from that suppose your statement below?



If no links then tell me/us what you remember about the "method and scheduling repayment for the loan." Don't say you don't remember because you remember enough to make this statement that "there was no way they would have been able to pay off those loans.

Okay, so first of all, we're going off of what is publically available information. The loan payment was based off of 10 billion dollars, with a guarantee of 30 years, along with a 99 year lease to China, in case it fails to pay the loan.

We know that Tanznia's 2019-2020 budget was 15 billion dollars, and it's running on a pretty big budget deficit. Assuming we take the 30 years as a target to pay off all the loans, that means Tanzania would have to spend over $300 million just on the principle alone. Taking that into account, and the fact that the country is already running a deficit, it would have to dedicated anywhere between 2 to 5%, depending on interest being charged, of its yearly budget to paying off the loan in time. That may not seem a lot, but again, the country's budget is 15 billion, with a 62 billion GDP(2019).

With no guarantees that the projects are gonna generate any sort of revenue, this is a bad deal. Interest on these loans add up. So I stick by my claim that they wouldn't be able to pay off the loans on time. Especially not now, when their economy is struggling.

==

Taking that into account, what have I said that you object to. Clearly you're offended that I called this a bad deal, when even the country's leadership say it's a bad deal.

If you have a problem with this, send a letter to Tanzania's leaders, not me.

Say whatever you want to say. Current GoSriLanka is returning the port to China.

China had build hospitals and schools in many countries. Many countries got few millions.

Only mother will pay you billion dollar for your schools and healthcare. This is job of mother. Not China.

The project is suppose to spur economic growth and sustainability. Your assertion that I'm asking China to be a mother hen is ridiculous, and disingenuous. You KNOW what I'm talking about, let's not pretend otherwise.
==
Anyway, break times over. I probably won't be replying any further, I've said what I've said. Feel free to disagree.

 

[Clutch]

Great decision...

 

[zectech]

Lets pretend all the nonsense you spew are true. Yet all these African countries still continue to choose to get loans from China instead of India. Think about that.

Chinese Belt and Road and developing the world globalism is going to blow up in their face. They should have invested that money, not in African development, but in Chinese development.

Chinese wasted trillions in Africa and the rest of the world.

Africa should be indebted to the IMF and World Bank. Let the zionists steal the resources of Africa. China should not be helping Africans, they have no gratitude to China. Africa belongs to the banksters, that is their racket.

I was calling for China to recall their wealth from the world during the trade crisis back in 2018 and 2019. I knew of false flags, sanctions, blackmails, refusal of payback loans back then.

China trusted their nazis-globalist so-called trading partners. I know that nazi lot and it is evil.

My solution to any potential global theft of Chinese property is if you can't recall it, as I described over and over during the trade wars, you fix the Yuan to a metal to stabilize the Yuan (remember how I said to stockpile metals like no tomorrow for months on PDF) and replace every yuan lost to asset seizure through fiat money creation, so there is no banking crisis in China. Every Chinese national gets paid back, including the SWF of 1 trillion US in treasury notes. And then have a consumer economy.

Most importantly is to build up their shipyards to over 25 naval shipyards.

2030 PLAN navy = 20 carriers, 10 missile battleships, 20 missilebattlecruisers, 55 cruisers, 200 destroyers, 170 frigates, 250 corvettes, 560 SSKs, 90 SSNs, 12 SSBNs

And by 2030 to switch over to producing semi-submersible fleets and be more advanced in EW than US.

 

[tower9]

Reminds me of how the British East India company operated- Seems like a copycat Model- Read through the link-A lot of similarities.

https://www.historyextra.com/period...trading-corporation-became-an-imperial-ruler/

The Chinese state has learned a lot from the British East India company. Trust me, they put in a lot of effort into studying the rise of the British empire.

 

[Tom99]

Okay, so first of all, we're going off of what is publically available information. The loan payment was based off of 10 billion dollars, with a guarantee of 30 years, along with a 99 year lease to China, in case it fails to pay the loan.

We know that Tanznia's 2019-2020 budget was 15 billion dollars, and it's running on a pretty big budget deficit. Assuming we take the 30 years as a target to pay off all the loans, that means Tanzania would have to spend over $300 million just on the principle alone. Taking that into account, and the fact that the country is already running a deficit, it would have to dedicated anywhere between 2 to 5%, depending on interest being charged, of its yearly budget to paying off the loan in time. That may not seem a lot, but again, the country's budget is 15 billion, with a 62 billion GDP(2019).

With no guarantees that the projects are gonna generate any sort of revenue, this is a bad deal. Interest on these loans add up. So I stick by my claim that they wouldn't be able to pay off the loans on time. Especially not now, when their economy is struggling.

==

Taking that into account, what have I said that you object to. Clearly you're offended that I called this a bad deal, when even the country's leadership say it's a bad deal.

If you have a problem with this, send a letter to Tanzania's leaders, not me.


The project is suppose to spur economic growth and sustainability. Your assertion that I'm asking China to be a mother hen is ridiculous, and disingenuous. You KNOW what I'm talking about, let's not pretend otherwise.

Don't give me assumptions, give me facts. Basted on what facts that made you said "There was no way they would have been able to pay off those loans."

Facts like, loan interest, grace period, payment period, and securities.

 

[That Guy]

Don't give me assumptions, give me facts. Basted on what facts that made you said "There was no way they would have been able to pay off those loans."

Facts like, loan interest, grace period, payment period, and securities.

I just gave you hard numbers.

Take it or leave it.

The fact that thr leadership of Tanzania said it was a drunken man's deal is enough to show that they're not happy with it.

Besides, I'm under no obligation to do your homework for you. The fact you couldn't even be bothered to do basic google searches is enough to tell me you're just trolling.

 

[Nilgiri]

I just gave you hard numbers.

Take it or leave it.

The fact that thr leadership of Tanzania said it was a drunken man's deal is enough to show that they're not happy with it.

Besides, I'm under no obligation to do your homework for you. The fact you couldn't even be bothered to do basic google searches is enough to tell me you're just trolling.

Did they have an election in between in Tanzania?

 

[gangsta_rap]

whats a debt?

 

[Tom99]

The fact that thr leadership of Tanzania said it was a drunken man's deal is enough to show that they're not happy with it.

I don't doubt he is not happy and wants a better deal then it's given by the firm China Merchants Holdings. However is free to get another offers from any other company from any country. Neither is this firm nor is China holding a gun to his head.

However, that's not point of contention here. You made a statement as a matter of fact that "there was no way they would have been able to pay off those loans."

Besides, I'm under no obligation to do your homework for you. The fact you couldn't even be bothered to do basic google searches is enough to tell me you're just trolling.

You made a statement without supporting facts and I want to know where you got your supporting facts from and what they are, which you still haven't been able to provide so far.

 

[rott]

whats a debt?

 

[gangsta_rap]

????
Not sure if the question warrants 6 'ROFL' emoticons
Maybe like 2 or 3 but not 6

 

[Nilgiri]

????
Not sure if the question warrants 6 'ROFL' emoticons
Maybe like 2 or 3 but not 6

????
Not sure if the question warrants 6 'ROFL' emoticons
Maybe like 2 or 3 but not 6

 

[rott]

????
Not sure if the question warrants 6 'ROFL' emoticons
Maybe like 2 or 3 but not 6

I am lying on the bed and typing with my mouse. It must have punched a lot more than required.

????
Not sure if the question warrants 6 'ROFL' emoticons
Maybe like 2 or 3 but not 6

Lying on the bed now. Too lazy to get up to type.

 

[Tom99]

Did they have an election in between in Tanzania?

They did. The previous president agreed to a deal and the current president doesnt' agreed to the deal.

This is the reason why Chinese firms wants to have more control of any long term and high cost project. You can't have new president/leader come in every few years after the project have started to make new demands. Given how much fraction between parties and how corrupted some African governments are, big projects won't get anywhere otherwise.