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avatar of @nonsowrites
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@nonsowrites
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in finance, there is something called debt finance. Simply put it using people's money to make more money at little or no cost. It is considered the cheapest way of doing business. I do not frown at borrowing. In fact, DeFi won't be a thing if people didn't need to borrow. Surplus income/revenue should be redirected and often the best place or people to redirect those surpluses to are people who need them; people who can put those monies to positive use and improve their lives and community. The problem, as you have stated in this post, is the mismanagement of borrowed funds. Certainly, if these monies borrowed were put in good use they will impact the lives of every Nigerian and we would have different means to generate revenue to payback. However, that's not the case and this raises a lot of eyebrows. loans to countries aren't the same as loans to people. Their sovereignty cannot be taken because they owe, however it does impact the willingness of the international communities to lend to these countries if they do not meet their own end of the bargain. Also, most of these African countries are indebted to china. many have questioned the dealing of china in Africa. We are yet to see the true picture. Zimbabwe is one country who so happens to be deep in debt and might default in their payment this year. All eyes are on them to see what happens.

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