Chinies new depth target Nepal

Kathmandu 14 August : Now the another country go in the debt trap of China . Chinies president xi jumping uses to urge the debt trap,

 in july nepal was grounding six Chinese planes, the Nepal airlines had bought them back in 2012 but it can't afford to keep these planes in the air .the rationale is that they cost too much now these planes were bought as a neighborhood of a affect china.

 there was the promise of a gift the agreement was fairly simple nepal will buy six planes from china .

china will give two more planes as gifts now you should has learned that the agreement was not so simple in any case, it was a deal that only benefited china the agreement was signed within the year 2012 under prime minister babur ram bhattarai.

 nepal bought these planes through chinese funding 60 percent of the funding came from china's exim bank the remaining 40 percent was within the type of a grant a subsidy from china .you'll say the value of the deal was 6.6 billion nepali rupees that's quite 50 million dollars as of today.

 the term of the loan was 20 years the interest rate 1.5 percent now the chinese planes are grounded and nepal is stuck with the liability the list of problems we'll tell you is fairly long the operating costs the insurance of the plane they're too high the spares aren't available when they are available they're too costly the spares are sold at a markup of fifty to 70 training pilots to fly chinese planes.

 also costs tons 50 percent quite what airlines usually pay so nepal airlines had no option but to ground the planes what about the chinese loan can they dismiss the loan too will the airlines still got pay the installments can it return the planes.

 these questions need to be answered by the government of nepal but the govt. of nepal is busy with more important things like establishing the birthplace of lord Buddha the early government is fighting over the legacy of Buddha it began with a handout by india's external affairs minister S J Shankar he described the bud together of the two greatest Indians.

 the other being Gandhi the minister's point was fairly simple it was a reference to india's shared heritage with nepal but kathmandu saw it as something else it had been outraged nepal's foreign ministry in need of a statement .

it said that it's undeniable that gotham buddha was born in nepal nepal's lumbini because the birthplace of buddha and thus the fountain of buddhism but nepal's desperate decide to trigger yet another diplomatic raw with india turned out to be a non-starter.

 New Delhi issued a handout soon after nepal confirming that there is no doubt over the birthplace of the bud such is that the desperation of nepal the only government is trying to ways to pick a fight with india first it laid claim over three indian territories then the prime minister of nepal said that lord rama was born in nepal.

 that he was a nepali now he wants to possess the legacy of lord bud while china continues to urge the groundwork to repossess nepal's assets nepal has not said anything about china's claims on Everest by the way and despite the bitterness within the relationship india remains steady in its support for nepal the indian army has gifted 10 ventilators to the nepal army they were handed over on sunday with no strings attached.

Now the question is now Nepal going to debt trap like srilanka,moldives,and other African countries, if it does then Nepal should prepare for it.