The Viewers Corner News team wrote articles on this topic in the past and we are doing so again as a reminder to all countries in the continent of Africa. Now hear this: the desire to solve the economic problems of African countries may have led African leaders to seek large sums of money without considering whether the terms of the loan are favorable to them or not. Also, poor negotiations from African leaders may also be another factor. Sometime ago, a Senator in the United States of America told the truth to the world. In his speech, he said that high interest rates and other taxes given to African countries are hurting them so badly and can never let them grow. He also mentioned so many areas and suggestions on how African countries should get tax cuts. This means that countries on the continent of Africa are not being treated fairly in most business transactions done with the advanced nations of the world. In our opinion, a loan given to a country in Africa would attract higher interest rates when compared to those given to other countries in the world. Some of the advanced nations of the world get raw materials from the continent of Africa. After production is completed, they send the finished products back to countries in Africa and sell them at a very high price, instead of leaders in Africa asking those investors from the advanced countries of the world to set up such industries in Africa. Who is to be blamed for this leadership failure? It is the leaders of Africa because they lack the foresight and the ability to negotiate. This group of African leaders can easily be manipulated by other countries in the world, which is bad. The Viewers Corner News team is calling on countries in the continent of Africa to stop taking loans that would mortgage the future of their various countries and that of their children and those yet unborn. Look within your countries. There must be a way out other than taking loans which can not be repaid in a lifetime.
Source: Viewers Corner News.