Debt: would you take loaf of bread for free, if it mean your grandkids will pay for it?

[aden1812]

Somalia, like a sick person, is hurt by debt slavery, where borrowing money now means their kids will pay later. This problem is like what’s happening in Kenya and Ethiopia, where people are paying more taxes because their governments borrowed a lot of money. The extra taxes are hard on everyone, especially when they have to pay for big debts. So, Somalia should wait before borrowing more money and first make sure they have good rules to stop people from being dishonest with the money. This way, when Somalia does borrow money, it really helps the country and doesn’t just create more problems for future generations.

No matter how much money a country like Somalia borrows, a bucket with a hole at the bottom will never be filled. And western countries will always exploit that, for example there are many countries in Africa crippled by debt. Where 50% of their national revenue from taxes goes to paying interest.

somalia needs strong selfless leadership.

 

[aden1812]

If I was a leader in Somalia, I would

1) cut all international “food aid”, while giving 0% loans and tax breaks to Somali farmer.

2) developing a “somali combustion engine” that can power all vehicles from industrial, agricultural, commercial, and personal use.

3) create a judicial system that “play no games” in handing out sentences

4) develop a tourism industry

5) focus on educating at least 2 generations of Somalis in at least 2 forms of skilled labor

6) use any funds from natural resources to create a sovereign wealth fund that gives business loans to diaspora Somalis.

7) create a lottery to send amy Somali over 65 to hajj

8) make geeljire pay 10% tax on every camel sold, funds will be used to rehabilitate desert land so they can contribute to the areas they inhabit.

the list goes on, but sadly none of it wil work, unless Somalis are willing to accept hardships over free money.

 

[Lahaine]

There is lots of oil in somalia if we get our country stable we might pay our debts with it but until we get our country stable we will have to take debt

 

[Basra]

Somalia, like a sick person, is hurt by debt slavery, where borrowing money now means their kids will pay later. This problem is like what’s happening in Kenya and Ethiopia, where people are paying more taxes because their governments borrowed a lot of money. The extra taxes are hard on everyone, especially when they have to pay for big debts. So, Somalia should wait before borrowing more money and first make sure they have good rules to stop people from being dishonest with the money. This way, when Somalia does borrow money, it really helps the country and doesn’t just create more problems for future generations.

No matter how much money a country like Somalia borrows, a bucket with a hole at the bottom will never be filled. And western countries will always exploit that, for example there are many countries in Africa crippled by debt. Where 50% of their national revenue from taxes goes to paying interest.

somalia needs strong selfless leadership.

huuno RELAX. the debit will be forgiven like many debts before. Somalia had bigger DEMONS to fight. agaah

 

[aden1812]

There is lots of oil in somalia if we get our country stable we might pay our debts with it but until we get our country stable we will have to take debt

Full disclosure, oil is not going to fix Somalia.