4/09/2022

Who is the real culprit in creating debt traps?

The IMF has such a bad name nowadays, known by many to be setting real debt traps for countries like Argentina. Argentina is a good study of how the trap works. Argentina had been paying back it's loans over the years, but the amount of debt has not been reduced. The Argentina currency had continually been depreciated, so the loan gets bigger in US$ terms. That is the trap they set and that is how they control countries that went to them for help.

When China started the AIIB, it was widely criticised by the USA and the West, as it was now competing directly with the IMF and World Bank. When China upped the game plan by offering loans to poor countries to develop infrastructure, it was strongly criticised and demonised to no end as a debt trap. But taking loans for infrastructure development and promise of economic progress certainly trumps taking loans to buy destructive weapons with nothing to show. Why would sensible countries opt for destruction rather than progress and a better life for it's citizens? The USA and the West is intent on keeping poor countries perennially poor, so they can be controlled, while China is helping poor countries to rise above poverty. China itself has shown the road to others by lifting people out of poverty, hundreds of millions of their own people, and it does not escape the attention of those poor countries in South Asia, South America and Africa.

Anonymous 

PS. The debt trap that Sri Lanka is owing is mainly to the IMF, after so many years still paying and never ending. The proof is in the pudding as they said. Look at the number of loans that are being taken up by the poorer countries and you will know who they would go to for cheap loans. 

If the IMF is that good, why are they flocking to borrow from AIIB and not IMF? Should not they abandon AIIB and go knocking at the door of IMF? It is exactly because of the fear of debt trap by the IMF.  

And the West and IMF have resorted to bad mouth AIIB because they are losing customers to AIIB.

4 comments:

Anonymous said...

The USA and Western countries accusation of debt traps under the BRI have unearthed the real debt traps set by the IMF and World Bank, with countries like Argentina being perfect evidence of that, after analyst dug deeper. That is why the accusation against China has been very much muffled lately.

Now the USA and the West are using subterfuge to sabotage the BRI, with terrorism involved to disrupt the BRI in Central Asia, funded by you know who. Evil minds always think of evil schemes to make countries remain perpetually poor, so they can be controlled, exploited and cowed easily.

This is clearly evident in Africa, where countries under colonial rule have never progress, and all over the decades, wars and internal strife are created for them, rather than helping them to progress. It figures why, after getting rid of the White colonizers, the African countries are turning to China. Many African countries now have large beautiful airports, train stations and infrastructures to show, and resource not pilfered by thieves, liars and gangsters. The choice is obvious for them.

Anonymous said...

It seems the removal of portraits of Lenin and Stalin in Ukraine is big news on MSM. And the UK sending tanks to Ukraine is big news too. Those tanks will become scrap iron once they reached Ukraine. Russian satellites can track them and precision missiles will take them out.

I still remember pro-USA protestors pulling down Saddam Hussein's statue in Iraq. Now, are those protestors still celebrating?

Even if Ukrainians remove their own cuckoo birds, it will not rattle or mean anything to the Russians. After all Ukraine will not survive and will be wrecked completely.

Anonymous said...

How can countries like Argentina be able to pay off the Debt Traps set by the IMF?

Almost impossible!

Until and unless, there is a possibility of having a huge gap of delayed payments. Even if it able existed, it would drive the debt deeper and deeper.

Anonymous said...

Russia will make sure Ukraine does not survive as a Nation anymore.

After what the Russians have gone through, the country will not survive in its present form.