Protesters from across Africa gathered in Ghana’s capital to call for national debts to be cancelled. The push comes after the continent’s external debt doubled in the last five years.
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The question is what did you use the borrowed funds for?. When your officials in government who borrowed the money were buying cars and looting why didn't you protest?.
They want freedom and independence. Correct. Was enough exploitation and spreading democracy* from foreigners. 🙌🏻
Ghana: I would like to borrow some money to build roads , schools , health care ,
IMF : Sounds good , we will loan you the money here is the repay payment plan,
Ghana : Good we will pay back the loans
IMF : Here is the money
Ghana : Now I can send my kids to expensive European private schools , buy my wife a new Mercedes and a new home and jewelry…..Oh I need to buy the same for my girlfriend , and a new house.
Ghana: We have no money , we need another loan !!!
IMF; where are the Hospitals , Schools and Roads.
Ghana: Don't ask that we just need more money , more money
Typical of them they always want something for free
The risk premium is higher because they know you will steal the money
IMF Debt Trap
The interest rate is based on the risk. Also much of that money borrowed was from China and they won't really negotiate. So good luck with that.
Funny, he asks why the risk premium is high whilst they are protesting for default 😅
😂😂😂😂
😂
W Ghana!!
Does this really surprised anybody?
If any of these International lending authorities cancel any African debt America should immediately withdraw their support in contributions forever
Held your politicians/government officials for the corruption and stealing the funds that were designed for growth.
😂😂😂,they don't know how money works,am so sorry my brethrens
Are you guys serious 😂😂.
The answer to that is simple: our pseudo leaders are not good enough to occupy political office
I guess they really do not understand money.
Uh it's about 4.10 for gas rn buddy
And we actually pay our debts! Their cousins in Argentina defaulted. We actually pay!
Yeah sure let s cancele every country's debt
We should be fighting corruption and poor governance, rather than focusing on the contracts and agreements our countries willingly entered into with debtor entities and nations.
The African governments have been looting from their own countries for many years while their own people are starving and other countries have been helping.Many,many years now and the time is way past for them to stand on their own feet.These protesters look prosperous.
Pay up
After seeing their debt American 😂😂😂😂😂
It's so high because they never pay it back. They need to look at their corrupt politicians using the monies lent for their own personal means. Nobody forced these nations to borrow the money. Ok don't pay it back!!! That way no one will lend you money ever again!!!
Maybe the borrowing costs more as African countries are more unstable and hence less likely to pay it back ?