this post was submitted on 18 Oct 2023
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[–] Gigan@lemmy.world 8 points 2 years ago (1 children)

Kenya’s President William Ruto is seeking $1 billion more in loans from China, despite rising public debt that has now reached $68 billion.

He's just trying to get to $69 billion

[–] ZILtoid1991@kbin.social 2 points 2 years ago

Then will say "Nice!" and retire to his mansion his friends built for him from stolen public money.

[–] Risk@feddit.uk 1 points 2 years ago (1 children)

Quoting the total debt never makes much sense - right? Because the actual important figure is % of GDP.

Also, debt where you invest in your country is surely the best possible use - as opposed to spaffing public money to make your friends rich during Covid.

[–] PugJesus@kbin.social 3 points 2 years ago

Because the actual important figure is % of GDP.

Even that's conditional. 50% of GDP as debt, as an example, is much more significant in a country where the GDP per capita is 2,000$, compared to 20,000$.

[–] livus@kbin.social 1 points 2 years ago* (last edited 2 years ago)

Got to pay for all those trees somehow!