Free Republic

China has often been accused of luring the poor African countries in its debt-trap by providing them loans for much-needed infrastructure projects and then control them when they fail to pay off their debts. Tanzania President John Magufuli has cancelled a Chinese loan worth $10 billion signed by his predecessor Jakaya Kikwete to construct a port at Mbegani creek in Bagamoyo over terms and conditions that, he said, beat the logic. Magufuli said that the terms of the Chinese loan agreement could only be accepted by a drunken man. His predecessor, Jakaya Kikwete had signed the deal with Chinese...