Clock Has Hit Midnight. China Loans Pushing World’s Poorest Countries To Brink Of Collapse

A dozen poor countries are facing economic instability and even collapse under the weight of hundreds of billions of dollars in foreign loans, much of them from the world’s biggest and most unforgiving government lender, China.
An Associated Press analysis of a dozen countries most indebted to China — including Pakistan, Kenya, Zambia, Laos and Mongolia — found paying back that debt is consuming an ever-greater amount of the tax revenue needed to keep schools open, provide electricity and pay for food and fuel. And it’s draining foreign currency reserves these countries use to pay interest on those loans, leaving some with just months before that money is gone.
Behind the scenes is China’s reluctance to forgive debt and its extreme secrecy about how much money it has loaned and on what terms, which has kept other major lenders from stepping in to help. On top of that is the recent discovery that borrowers have been forced to put cash in hidden escrow accounts that push China to the front of the line of creditors to be paid.
Countries in AP’s analysis had as much as 50% of their foreign loans from China and most were devoting more than a third of government revenue to paying off foreign debt. Two of them, Zambia and Sri Lanka, have already gone into default, unable to make even interest payments on loans financing the construction of ports, mines and power plants.
In Pakistan, millions of textile workers have been laid off because the country has too much foreign debt and can’t afford to keep the electricity on and machines running.
In Kenya, the government has held back paychecks to thousands of civil service workers to save cash to pay foreign loans. The president’s chief economic adviser tweeted last month, “Salaries or default? Take your pick.”

People jostle each other to buy subsidized sacks of wheat flour in Quetta, Pakistan, Thursday, Jan. 12, 2023, after a recent price hike of flour in the country. An Associated Press analysis of a dozen countries most indebted to China
Police fire tear gas as protesters stormed the compound of Prime Minister Ranil Wickremesinghe demanding he resign after President Gotabaya Rajapaksa fled the country amid an economic crisis in Colombo, Sri Lanka 2022

Sri Lankan port workers hold a Chinese national flag to welcome Chinese research ship Yuan Wang 5, bristling with surveillance equipment, as it arrives in Hambantota International Port in Hambantota, Sri Lanka,

An SGR cargo train travels from the port containers depot on a Chinese-backed railway costing nearly $3.3 billion, opened by Kenya’s president as one of the country’s largest infrastructure project since independence, in Mombasa, Kenya, on May 30, 2017

Muafrica anajua hizi maloan ni bonoko…MChinku hakuna kitu atafanya…his game iko Mbali…nikama kupatia Malaya loan while unakula goodiees…always pending. Until bonobo Malaya iamke…MChinku pia anajua ni loan hailipwi direct ki imf…tutanego…

Truth be told…the Asian sits in the same table pesa wise na bazungu…they are cousins in terms of mbesha…muafrica bado anangangana…kutoboa is taking time…

At my breako restaurant Niko solo…sucks…

The wealth disparity is too stark…

MChinku Ako na long con…he gets more out of Africa than he pretends to loan it…:D…he learnt that from bazungu…bonobos tingz

You don’t have to worry bwana! When Xi comes for us, we will all just shout “msito Xi” and he will forget that he loaned us any monies.

Low IQ garbage from a diploma holder.

Ungekua mtu ako na degree,ungetafuta, figures and you’d have ignored that CIA propaganda.

Ungejiuliza hizi maswali

1.What is the total amount of Kenya’s external debt ?

  1. Breakdown the debt stock by lenders. Who should you really be worried about?

3.Tingisha kichwa and agree with me that hauna akili na degree muhimu sana.

that is the plan… enslave the african, plunder his resources, labor and population… xi is already building military bases in africa

you do not see further than your arrogance… nothing is fo free. xi is just biting time

Lakini we should all blame ruto for this!

We have become slaves of our lenders!

Hauna akili pia wewe…

1.What is the total amount of Kenya’s external debt?

2.Loan za China ni what percentage of that external debt?

Africa is now it’s own slave…in the age of info 2023…we get to recreate the world with love…where we met hate…only Africa can show love…the raped victim…moral and ethos ni yetu…only Africa can change humanity within and without…

your little mind can only see now… no need to argue with such a person… you should review the cold war before blubering… the east and the west thrive because the average african individual is as ignorant as you…

Mbwau wewe. the fact is China’s high IQ economists know how to manupilate their currency and devalue it. They also know how to gauge importtant loan parameters such as Risk and ROI while low IQ bonobos such as Kenyan Ministers can’t foresee events more than 2 years ahead. So wewe ndio mjanja kuliko watu wote wa hizo countries zimetajwa hapo. Why don’t they outsource your Degree Services uwe unawafanyia hesabu kwa Central Banks zao and advice them on how to manage their debts.

Hapa ni mambo ya Management. China employs their Best to manage their Economy while Bonobos like yourself Employ your worst Low IQ apes to manage the economy and export your best Minds to the EU/US. Hapo ndio shida inatokea. Kubali we are fvcked with or without CIA propaganda, tuko kwa shimo. Why do you like passing blame. CIA ndio ilikopa loan ya Kenya from China?

Degree yako ya Kimende University haisaiidii kitu

Umbwa Malaya wewe Wacha kupayuka kama wazimu.
Jibu swali,
Mbona una ita loans eti ‘china loans’ na amount of Chinese loan ni less than 10% ??
Ulizaliwa na autism ama ni kisonono uliyozaliwa nayo ilifika kwa akili

0 to 100 real quick :rolleyes:…

We are fixing the handshake

Hauna akili wewe…

1.What is the total amount of Kenya’s external debt?

2.Loan za China ni what percentage of that external debt?

so in your collective opinions, Kenya is in a good place debt-wise , the major multinational companies exiting the market are retards? and nabii will save us with his mediocre policies and confused minions?:D:D waxha dollar igonge mia mbili na inflation, interest, penalties fees… tutakuwa zimbabwe…

1.What is the total amount of Kenya’s external debt?

2.Loan za China ni what percentage of that external debt? 33% the other 67% ni za EU, IMF, WB, US, AfDB etc

One country ina kopea Kenya 33%. Tutakuwa enslaved ndio mumee akili na hizi Degree equivalent na CAT za Grade 5 ya China

Hii 10% ulitoa wapi? Figure ni 33% you are a Chinese slave.

What hurts is a big percentage of the loan ended up kwa mifuko ya maumbwa flani yet they expect us all to service the loan.