Chinese loans no debt trap – President Masisi

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Botswana’s President Mokgweetsi Masisi has moved to allay fears that loans from the world’s second largest economy China are a debt trap for African countries like his own. Writing on his Facebook page on Tuesday, shortly after arriving in Gaborone from the latest World Economic Forum, Masisi said his government’s decision to accept soft loans from China would lead to nothing that should alarm Botswana.

Masisi wrote that fears that Botswana may find itself in a debt trap like other African countries which have benefited from Chinese loans are largely unfounded. Masisi is convinced that the Asian giant was not using Africa as part of its debt trap that would leave the continent beholden to it in fiscal terms.

He emphasised that while some critics of Chinese loans to Africa may be crying wolf, the world’s second largest economy was not using its soft loan as part of its diplomacy to trap African countries into economic servitude.

He said Botswana, which is heavily reliant on diamond exports, intends to use such loans to diversify its economy. The Botswana leader’s comments follow widespread feelings of mistrust in Africa about China’s motives for its involvement in Africa.

Source: journalducameroun.com

9 months ago

1 Comment

  1. The Chinese are like a cancer. They infiltrate with smiles and buckets of bribe money that enrich the African country leaders at the expense of it’s people and the millions of elephants, and rhinos poached for their ivory and horns. The Chinese are a duplicitous race with no honor who worship the money-god with no concerns for African workers and Africa.

    People, rise up and kick them out!

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