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In the words of Thomas Isidore Sankara- Debt is cleverly managed reconquest of Africa aiming at subjugating it’s growth and development through foreign rules. Thus this has successfully managed to make the continent become financial slaves which is to say true slaves. Africa has been projected to have reached an impregnable debt point. Yet the Brentwood Institutions and other international lenders have given out huge loans to developed countries.

Africa perhaps in a state of desperation has ended up negotiating for loans that have choking interest rates compared to the Western and Eastern World Countries that have four years now controlled the world finances and economy.

Here is a look at the debts that the most developed countries have

1. USA ($18,286 trillion)
2. UK ($7,499 trillion)
3. France ($5,250 trillion)
4. Germany ($5,084 trillion)
5. Netherland ($4,124 trillion)
6. Luxembourg ($3,900 trillion)
7. Japan ($3,408 trillion)
8. Italy ($2,285 trillion)
9. Ireland ($2,236 trillion)
10. Spain ($2,036 trillion)
11. Canada ($1,791 trillion)
12. Switzerland ($1,699 trillion)
13. Australia ($1,563 trillion)
14. China ($1,437 trillion)
15. China Hong Kong ($1,416 trillion)
16. Singapore ($1,300 trillion)
17. Belgium (($1,194 trillion)
18. Sweden ($938 billion)
19. Austria ($629 billion)
20. Norway ($623 billion)

It’s not only Africa!
But Rate of interest is different
For America 3%, For Africa 10% interest Remember to apply for program here to emancipate our continent from debt trap


Published by MyWritings

A Writer, A Diplomat in Waiting, Climate Change Advocate and a Football Administrator

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