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Za-Ilmaknun
Member
Posts: 552
Joined: 15 Jun 2018, 17:40

“Djibouti could be surrendering its ports to China on multiple year concession unless it clears up its massive debt.”

Post by Za-Ilmaknun » 14 May 2019, 14:29

"Sri Lanka recently defaulted on more than a billion dollars of infrastructure development loans. It was forced to surrender a port to Chinese state-owned companies on a 99-year concession. Similarly, to pay off its debt, Pakistan gave a 40-year concession. Analysts speculate that Djibouti could be next on the chopping block, unless it clears up its massive debt to the Asian giant immediately."

I kinda wonder which one of Ethiopia's companies would be facing the same fate since TPLF borrowed and laundered huge chunk of money in the name of Ethiopia. [/color]

https://addisfortune.news/be-wary-of-ch ... t-project/

Ethoash
Senior Member+
Posts: 20246
Joined: 20 Apr 2013, 20:24

Re: “Djibouti could be surrendering its ports to China on multiple year concession unless it clears up its massive debt.

Post by Ethoash » 14 May 2019, 14:43

Za-Ilmaknun wrote:
14 May 2019, 14:29
"Sri Lanka recently defaulted on more than a billion dollars of infrastructure development loans. It was forced to surrender a port to Chinese state-owned companies on a 99-year concession. Similarly, to pay off its debt, Pakistan gave a 40-year concession. Analysts speculate that Djibouti could be next on the chopping block, unless it clears up its massive debt to the Asian giant immediately."

I kinda wonder which one of Ethiopia's companies would be facing the same fate since TPLF borrowed and laundered huge chunk of money in the name of Ethiopia. [/color]

https://addisfortune.news/be-wary-of-ch ... t-project/
Za-Ilmaknun

let me translate for u

i will never buy house borrowing from the bank because my buddy lost his house for the bank because he could not make his mortgage

i will never buy a car because my buddy had car accident

i will never go to school because my buddy could not find a job after schooling

i will never marry because my buddy just divorced his wife

dear Za-Ilmaknun loan or no loan Eritrea is a dead nation .. out of 6 million population 4 million left Eritrea in search of food and 2 million of them dying trying the rest of 2 million back home are over 77 years old they r waiting for their death ... u didnt know it yet Eritrea is a dead nation...

now i agree with u carrying what u cant pay off .. is not good idea so u should blame those who took loan beyond their mean otherwise loan is fact of life.. without loan u cant build anything it is only a matter of how u going to balance it...

one last kick on the head.. what u should compere is Assab Afar with Djibouti that is what u should compere

massawa booming economy


vs

Za-Ilmaknun
Member
Posts: 552
Joined: 15 Jun 2018, 17:40

Re: “Djibouti could be surrendering its ports to China on multiple year concession unless it clears up its massive debt.

Post by Za-Ilmaknun » 14 May 2019, 15:25

Ethoash wrote:
14 May 2019, 14:43
Za-Ilmaknun wrote:
14 May 2019, 14:29
"Sri Lanka recently defaulted on more than a billion dollars of infrastructure development loans. It was forced to surrender a port to Chinese state-owned companies on a 99-year concession. Similarly, to pay off its debt, Pakistan gave a 40-year concession. Analysts speculate that Djibouti could be next on the chopping block, unless it clears up its massive debt to the Asian giant immediately."

I kinda wonder which one of Ethiopia's companies would be facing the same fate since TPLF borrowed and laundered huge chunk of money in the name of Ethiopia. [/color]

https://addisfortune.news/be-wary-of-ch ... t-project/
Za-Ilmaknun

let me translate for u

i will never buy house borrowing from the bank because my buddy lost his house for the bank because he could not make his mortgage

i will never buy a car because my buddy had car accident

i will never go to school because my buddy could not find a job after schooling

i will never marry because my buddy just divorced his wife

dear Za-Ilmaknun loan or no loan Eritrea is a dead nation .. out of 6 million population 4 million left Eritrea in search of food and 2 million of them dying trying the rest of 2 million back home are over 77 years old they r waiting for their death ... u didnt know it yet Eritrea is a dead nation...

now i agree with u carrying what u cant pay off .. is not good idea so u should blame those who took loan beyond their mean otherwise loan is fact of life.. without loan u cant build anything it is only a matter of how u going to balance it...

one last kick on the head.. what u should compere is Assab Afar with Djibouti that is what u should compere

massawa booming economy


vs
Ethioash,

Eritrea was never mentioned in the article and I am sure they never took the kind of loan taken by Djibouti to develop the ports. You and I know the fact that Ethiopia has been borrowing from China irresponsibly as if there is no tomorrow. Most of all, there is nothing comparable to show for the amount of the borrowing.

It is the talk of the town that the good PM AA is very successful in renegotiating the terms of the loans and, there by correcting the intentional and greedy mistakes of the TPLF barons. It is obvious that the Country is now hastily trying to auction off the mega sugar factories so as to be able to liquidate its mounting debt burdens.

Deflection and finger pointing to other countries won't help us dig outta the mess that TPLF throw us in. In a country where you export only $2 billion and import $18 billion, while paying $2 billion as port fee, I don't see anything to be proud of as TPLF errand boys are trying to tell us here.

"The IMF in December estimated Ethiopia’s public debt would be 57.2 percent of gross domestic product in the fiscal year to July 7 and forecast the current-account deficit at 6.2 percent of GDP. “While debt is sustainable in the medium-term, Ethiopia remains at high risk of debt distress,” the Washington-based lender said at the time."


https://www.bloomberg.com/news/articles ... on-inflows

Za-Ilmaknun
Member
Posts: 552
Joined: 15 Jun 2018, 17:40

Re: “Djibouti could be surrendering its ports to China on multiple year concession unless it clears up its massive debt.

Post by Za-Ilmaknun » 14 May 2019, 15:28

Za-Ilmaknun wrote:
14 May 2019, 15:25
Ethoash wrote:
14 May 2019, 14:43
Za-Ilmaknun wrote:
14 May 2019, 14:29
"Sri Lanka recently defaulted on more than a billion dollars of infrastructure development loans. It was forced to surrender a port to Chinese state-owned companies on a 99-year concession. Similarly, to pay off its debt, Pakistan gave a 40-year concession. Analysts speculate that Djibouti could be next on the chopping block, unless it clears up its massive debt to the Asian giant immediately."

I kinda wonder which one of Ethiopia's companies would be facing the same fate since TPLF borrowed and laundered huge chunk of money in the name of Ethiopia. [/color]

https://addisfortune.news/be-wary-of-ch ... t-project/
Za-Ilmaknun

let me translate for u

i will never buy house borrowing from the bank because my buddy lost his house for the bank because he could not make his mortgage

i will never buy a car because my buddy had car accident

i will never go to school because my buddy could not find a job after schooling

i will never marry because my buddy just divorced his wife

dear Za-Ilmaknun loan or no loan Eritrea is a dead nation .. out of 6 million population 4 million left Eritrea in search of food and 2 million of them dying trying the rest of 2 million back home are over 77 years old they r waiting for their death ... u didnt know it yet Eritrea is a dead nation...

now i agree with u carrying what u cant pay off .. is not good idea so u should blame those who took loan beyond their mean otherwise loan is fact of life.. without loan u cant build anything it is only a matter of how u going to balance it...

one last kick on the head.. what u should compere is Assab Afar with Djibouti that is what u should compere

massawa booming economy


vs
Ethioash,

Eritrea was never mentioned in the article and I am sure they never took the kind of loan taken by Djibouti to develop the ports. You and I know the fact that Ethiopia has been borrowing from China irresponsibly as if there is no tomorrow. Most of all, there is nothing comparable achievement in terms of development to justify for the amount of the borrowing.

It is the talk of the town that the good PM AA is very successful in renegotiating the terms of the loans and, there by correcting the intentional and greedy mistakes of the TPLF barons. It is obvious that the Country is now hastily trying to auction off the mega sugar factories so as to be able to liquidate its mounting debt burdens.

Deflection and finger pointing to other countries won't help us dig outta the mess that TPLF throw us in. In a country where you export only $2 billion and import $18 billion, while paying $2 billion as port fee, I don't see anything to be proud of as TPLF errand boys are trying to tell us here.

"The IMF in December estimated Ethiopia’s public debt would be 57.2 percent of gross domestic product in the fiscal year to July 7 and forecast the current-account deficit at 6.2 percent of GDP. “While debt is sustainable in the medium-term, Ethiopia remains at high risk of debt distress,” the Washington-based lender said at the time."


https://www.bloomberg.com/news/articles ... on-inflows

Ethoash
Senior Member+
Posts: 20246
Joined: 20 Apr 2013, 20:24

Re: “Djibouti could be surrendering its ports to China on multiple year concession unless it clears up its massive debt.

Post by Ethoash » 14 May 2019, 15:37

Za-Ilmaknun

let me ask u one question let assume the Chinese took over one of our sugar faculty or all of them why do i care as poor citizen .. if is own by Chinese or not i am going to work and getting paid in fact the Chinese might work harder and provided sugar for all Ethiopia hence stopping import of sugar... if they managed all i will not go to yemen and die in yemen i will work in Chinese company in Ethiopia then going to China and work for Chinese company all are the same to me.. in America most property owned by non America do u think the American care.. in Dubai the king said to the citizen when they complained why he allowed none citizen to buy property .. he told them do the non citizen carry with them their property can they take the land with them so why do u care it they invested in dubai... i am not worried ..

the only think u should worry is if Ethiopian golden government had they took the loan to wage war .. now the money still there in asset in sugar factory they money still there many be ten fold the borrowed amount because the inflation.... if the money was used to celebrate Eritrean 27 victory celebration then it would be lose..

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