@wave3andabit Firstly, "the Chinese" is a very broad term. What you posted is not accurate. Our Chinese investor DID choose to partly fund our project with their significant initial investment even if they did not participate in a later cr and they did NOT fund the port expansion. You talk as if Hong Kong Jayson and the Chinese party that funded the port expansion are the same entity. They are not. It is also not reasonable to expect one investor to fully fund a project on their own, regardless of the relatively small capital expense. Even the debt portion is being split between two lenders. Part equity/part loan and the debt being split between a syndicate of lenders is normal practice for resource project funding. In any case, that was not the point I was making. The discussion was about how high inflation as measured in the local currency did not stop the port expansion which is being paid for with a loan in Chinese Yen and will have to be repaid by Angola. For the Chinese, the price won't increase because of Angola’s devalued currency but for Angola, the price will be higher as measured in Kwanza. The project is proceeding regardless. Fortunately for Angola, its largest export by far is oil. That is sold in USD so taxes and royalties received from oil exports (as well as mining exports eg diamonds) are measured in USD and that holds its value and can be used for Angolan government debt repayments. Ie when oil taxes are used to repay foreign debt, local inflation does not affect the cost of those repayments. As for Minbos's project, Minbos will be paying for that in USD. The cost to Minbos does not charge with Kwanza inflation.
