Nigeria's Debt-to-GDP Crosses 50% - Chika Mbonu

[@imotumbokanaka4157]

chika and soup, please bring soup for rotus

[@thefreedom111]

Before any bank give you money, You have to show that you are credit capable, You have to also show a debt risk rating value and you have to tie a project you want to execute with the loan money. If any of these is absent, you will not get the loan. My question, why would world Bank give African countries Loan with NO project tied to such Loan? and if there is a project, the loan will not be used for it or at best looted to private pockets. Giving these realities, the world Bank still continue to provide more loans for corrupt govt to loot....Why?

[@ephramevezi48]

Very good question. That means the foreign powers are bad collaborators with the African ruiners.

[@saldaterra4724]

"God sent his Son into the world not to condemn the world, but so that the world might be saved through him." (Bible - John 3:1)

[@Bob_Ugee]

We are doing well. 😂

[@user-zx9vk4ks6z]

Mazi Chika Mbonu is talking about Nigeria's debt, but he has failed to tell his listers what he means by Nigeria. If by Nigeria he means western and northern Nigeria where loaned money is spent, then ok, but he cannot seriously include Ibos of eastern Nigeria in the so called Nigari's debt because none of the loaned money is spent in the east. He should properly be speaking about repudiation of foreign loans by the east because the region has not benefitted from them. As a business analyst, Mazi Mbonu should lend his voice to the view that all applications for foreign loans must include a requirement (also made explicit to lenders) that the loaned money must be fairly distribution among the federating regions or risk repudiation and default by excluded regions.

[@youme1414]

Western debt trap!