21–30 of 224 posts
I mean, Bill's foundation is already dedicating $3B a year on development assistance, couldn't Japan just say to Nigeria: "You don't have to pay us back. Consider it a donation". How could they reasonably expect Nigeria to pay them back $76M?
The problem is a charity paying off your debt does not make your credit better. While its slightly better than a writeoff/forgiveness because the creditor isn't as angry, it still shows they can't pay back loans. Is a future creditor going to count on a charity showing up to pay them off?
Why does the 6th largest oil exporter in the world need a $76M loan paid? Edit: Downvotes? Legitimate question guys. Can someone explain how that works?
On the face of it $76m seems like a staggering amount of money. Then we learn that the foundation dedicates $3b a year, and this seems like a drop in the bucket. Amazing what massively focused resources can accomplish.
This is clearly the Gates just engaging in corruption while making it look like they're "helping out".
I'm I the only one who thinks that Japan kinda looks bad here? I mean, Bill's foundation is already dedicating $3B a year on development assistance, couldn't Japan just say to Nigeria: "You don't have to pay us back. Consider it a donation". How could they reasonably expect Nigeria to pay them back $76M?
Why does the 6th largest oil exporter in the world need a $76M loan paid? Edit: Downvotes? Legitimate question guys. Can someone explain how that works?
Why does the 6th largest oil exporter in the world need a $76M loan paid? Edit: Downvotes? Legitimate question guys. Can someone explain how that works?
Wikipedia gives 2.231 million barrels exported per day for Nigeria in 2013. At $50 per barrel this amounts 40 billion Dollar per year. I have no idea what the profit margins are but at 10 % this yields only 4 billion Dollar in profits per year which seems rather little to me, especially given that it is the 6th largest oil exporter. So 76 million Dollar would be 1.9 % of the annual profits from oil exports, not much…
Why does the 6th largest oil exporter in the world need a $76M loan paid? Edit: Downvotes? Legitimate question guys. Can someone explain how that works?
Wikipedia gives 2.231 million barrels exported per day for Nigeria in 2013. At $50 per barrel this amounts 40 billion Dollar per year. I have no idea what the profit margins are but at 10 % this yields only 4 billion Dollar in profits per year which seems rather little to me, especially given that it is the 6th largest oil exporter. So 76 million Dollar would be 1.9 % of the annual profits from oil exports, not much…
This has $27B in 2016, which is a 73% drop from 2012. You're probably right that it's a significant chunk of money for them, especially when they've recently lost 3/4s of their market share.