And so it is.
Uganda has defaulted on a loan with Export-Import (Exim) Bank of China that was signed in March of 2015.
They sent four representatives to China to renegotiate the agreement. But to no avail.
The bank execs said if they allowed Uganda to reneg on the contract it would set a precedent.
African nations, I have been saying this for years. You cannot allow the Chinese to come into your sovereign nations to build highways, infrastructures, ports etc and TAKE out these crazy loans.
You are putting your nations’ assets and your citizens in peril of Chinese takeover. Uganda is a prime example!
The Entebbe Airport???
This situation needs to be addressed and rectified.
I pray a proper solution is put into play.
Wake up Africa!