this post was submitted on 11 Feb 2024
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Interesting Global News

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Pro-China President Mohamed Muizzu's predecessor, former president Abdulla Yameen, who ruled for five years until 2018, borrowed heavily from Beijing for construction projects.

That left it owing 42 percent of its more than $3 billion foreign debt to China in 2021, according to the World Bank, citing the Maldives' finance ministry.

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[–] [email protected] 6 points 8 months ago (2 children)

Yet many countries are tripping and falling over trying to queue up for China's loan. Why? Is the IMF/World bank not necessarily a good option? What goes on behind closed doors in these orgs?

[–] [email protected] 4 points 8 months ago (1 children)

The IMF forces austerity and privitization.

[–] [email protected] 5 points 8 months ago

So its just an org that goes to bat for rich bastards. Ugh.. I hate that

[–] [email protected] 1 points 8 months ago

Politicians are cheap to bribe.