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Paul Kearney so nearly got it right regarding Africa’s debt when he asked: “Why lend money to such countries and why should another country’s citizens or taxpayers take the hit for African despots stealing loans meant to improve their countries?” (“Why fund African despots?”, January 14).
Why lend money to them indeed. International lenders are not naive dupes. They know exactly who they are lending to and they expect a return.
The correct follow-up question is: why should African countries’ citizens or taxpayers have to take the hit for loans made cynically to their despotic leaders by institutions that know full well that the money was not going to improve people’s lives?
Simon Rhoades Vredehoek
JOIN THE DISCUSSION: Send us an email with your comments to letters@businesslive.co.za. Letters of more than 300 words will be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
LETTER: Don’t lend to despots
Paul Kearney so nearly got it right regarding Africa’s debt when he asked: “Why lend money to such countries and why should another country’s citizens or taxpayers take the hit for African despots stealing loans meant to improve their countries?” (“Why fund African despots?”, January 14).
Why lend money to them indeed. International lenders are not naive dupes. They know exactly who they are lending to and they expect a return.
The correct follow-up question is: why should African countries’ citizens or taxpayers have to take the hit for loans made cynically to their despotic leaders by institutions that know full well that the money was not going to improve people’s lives?
Simon Rhoades
Vredehoek
JOIN THE DISCUSSION: Send us an email with your comments to letters@businesslive.co.za. Letters of more than 300 words will be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.
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Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.