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Debt Traps are here

As much important infrastructure can be of utmost importance to the citizens of any country, so it is equally important that the future/economy of same country is not traded into debt in the name of living today and dying tomorrow. Looking at the present scenarios in some states, you will strongly advise anyone beside you not to borrow to start up a business; I have watched loans going bad for this same reason while working with a microfinance firm. "If you are a business man, you will know that when borrowing money, you should make sure that the money will generate enough interest to pay the cost of the money and the money itself. If you borrow money to pay your staff and your staff make money greater than the money you borrowed plus the interest, that is what is called "good debt". On the opposite, if you have to borrow money to feed your children, then you are doomed to be poverty stricken for the rest of your existence. I am beginning to doubt the efficiency of DMO that made a serious effort to free us from Paris Club Debts and IMF Debts under the watch of Former President Obasanjo, and supervised by Okonjo Iweala. The same DMO is on computer mood as we are taking consistent flights to Debt traps in recent times. With this kind of approach, we will live today....so sure. But the death postponement, no one knows how soon it is. Ayomide Yinka Abiona 17/04/16 ayomide abiona expresses his Public views via this blog site.

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