Rais wetu na mpigania wanyonge amekataa kupokea mkopo wa dola 10 billion kutoka kwa China ili kupambana na corona,Rais amefikia uamzi huo baada ya kuona masharti ya mkopo huo ni magumu na yanaliweka taifa letu rehani.
Mheshimiwa rais ameukataa mkopo huo kutokana na kujifunza yaliyowapata majirani zake kama Kenya, lakini pia kutoka srilanka,kwani baada ya kushindwa kulipa deni la nchi kama china kinschofuata na utaifishwaji wa miundo mbinu ambao hufanywa na China
Kila la kheri rais wa wanyonge,kila la kheri serikali yangu ya CCM.
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President Magufuli of Tanzania has been trending on Twitter after he cancelled a 10 Billion dollar loan that was offered by China.
China has been giving African countries loans which many citizens feel are not good for their economies, even a Kenyan Tweeted a funny meme on Twitter;
You may ask why a country like Tanzania can just cancel a huge loan that could improve their economy? With Covid19 ravaging the country? Wouldn't it be a great thing to just accept the loan and pay later?
But Magufuli termed the loan terms as "terms that can only be accepted by a drunkard"
Here is why;
Debt-trap diplomacy used by China
According to Wikipedia, Debt-trap diplomacy refers to the strategy used by China to lure or trap underdeveloped countries like the ones in Africa to borrow money to be used for infrastructure projects e.g. the standard gauge railway in Kenya that cost US$3.6 billion funded entirely by China.
What happens when you fail to pay the Chinese loan?
Take an example of Sri Lanka, the Chinese gave Sri Lankan government loans worth billions of dollars, which also funded Hambantota Port.
After Sri Lanka became unable to service the Chinese loan, according to Chinese loan terms, the port had to be handed over to China. Now the port belongs to the Chinese.
With Chinese loan, you either pay or they take any project that they funded if Kenya can't pay the Chinese, China will reposses the Railway which they will gain all profits from it for 99 years of lease.
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