Part Time Horse Lease Agreement: Fill & Download for Free

First, your linked article talks about the Gwadar port in Pakistan with an 13% interest rate. That appears to be a lie. From the horses mouth, the Pakistani government:“Noor Ahmed, secretary of the Economic Affairs Division of Pakistan, told Xinhua that the country‘s total foreign debt is about $106 billion and Chinese loan accounts for a mere 10 to 11 per cent of the total foreign debt, whereas the remaining 89-90 per cent is from other sources IMF, Paris Club, and other western organisations.“CPEC-related government loans have an interest rate of only 2 per cent and a repayment period of 20-25 years, and repayment of debt will begin in 2021. CPEC is not imposing any immediate burden with respect to loans repayment and energy sector outflows. All debt-related outflows will be outweighed by the resultant benefits of the investments to the Pakistan economy,” the statement read.Referring to China’s developmental project, the statement added that the infrastructure sector is being developed through interest-free or government concessional loans. Gwadar Port is a grant-based investment, which means the Government of Pakistan does not have to pay back the investment amount for the development of the port.Not only local, but foreign rating and economic organizations also see CPEC is a great benefit for Pakistan, rather than a debt trap. World’s leading rating agency Moody’s said that ongoing implementation of CPEC projects is likely to contribute 9 to 10 percent of Pakistan‘s GDP in the fiscal year 2018-2019.Another international audit, consulting, advisory, and tax services agency Deloitte said that CPEC would add up to 2.5 percentage points to the country’s growth rate. Xinhua”https://invest.gov.pk/node/678From what I have read, this is typical of BRI financing. Remember also, all financing for BRI does not come from just Chinese sources. There are 62 countries participating and as part of their participation, they have to invest funds to be used for development loans across the BRI. Many of these projects are considered high risk by the IMF and World Bank, both controlled by the US. It is not in the interest of the US to make the BRI a success.Most western media point to Sri Lanka as the poster child of how bad the BRI is and that the BRI was a debt trap. Sri Lanka’s problem was because it borrowed heavily and had a national cash-flow problem and bet big on its Hambantota port that went sour and on its own failed economy.“The Sri Lankan government is still obliged to pay off five loans obtained from the Exim Bank of China to construct the Hambantota port and the agreements pertaining to those loans have not been amended. The loans were not defaulted and the loan agreements remain unchanged. In that sense, the port lease cannot be interpreted as a debt-equity swap, which refers to a cancellation of debt in exchange for the equity of an asset. In this case there was no cancellation of the debt.Instead, a 70 percent stake of the port was leased to China Merchants Port Holdings Company Limited (CM Port) for 99 years for $1.12 billion. This $1.12 billion, however, was not used to pay off the debt obtained to construct the port. This significant dollar inflow was used to strengthen the country’s foreign reserves and make some short-term foreign debt repayments. To be precise, it is fair to say that the money earned from the Hambantota port deal was largely used to cover balance of payment (BOP) issues resulting largely from the soaring debt servicing cost while Sri Lanka’s export and FDI inflow growth remain sluggish.In August 2017, Sri Lanka’s cabinet of ministers took a decision to sign a concession agreement with CM Port to operate the Hambantota Port as a Private Public Partnership (PPP) project under which a 70 percent stake of the port is leased to CM Port. The remaining 30 percent of the stake is owned by the Sri Lanka Ports Authority (SLPA) and the commercial operations of the port are handled by the CM Port and the SLPA jointly while the government of Sri Lanka still owns the port. At the time of entering into the lease agreement, Hambantota Port was valued at $1.4 billion and CM Port invested $1.12 billion as per the terms of the agreement.A common and popular myth is that Sri Lanka was unable to pay off the loan obtained to construct the port, thus it was handed over to China. However, by the time the Sri Lankan government entered into the agreement with CM Port to lease Hambantota port, the debt servicing cost pertaining to the loans obtained from China Exim bank to construct the port did not amount to much. Those loan installments (including interest) amounted to less than 5 percent of Sri Lanka’s total foreign debt repayments. Furthermore, loan repayments pertaining to the second phase of the Hambantota port project were yet to start at the time. A more serious concern pertaining to foreign debt servicing cost was the maturity of sovereign bonds, which amounted to more than 40 percent of the total debt servicing payments in 2019.There were five loans (excluding loans obtained for a bunkering facility project) obtained from 2007 to 2014 to construct the port under the government led by Mahinda Rajapaksa, who now holds the office of prime minister. Some of the loans were obtained at interest rates as high as 6 percent while some were concessionary loans. The total sum of these loans amounted to $1.263 billion. Out of these five loans, just two loans, collectively worth $357 million, were obtained at commercial rates, indicating that the majority of the loans for the Hambantota port project were concessionary. However, the loan payback period was not long, which resulted in higher loan installments subsequent to the completion of the grace period.In that context, it is incorrect to claim that China acquired Hambantota port because Sri Lanka failed to pay off the debt obtained to construct the port. The often quoted “port deal” was actually a lease agreement clearly separate from the loans obtained for the purpose of constructing the port and the money obtained from the lease was used to strengthen the foreign reserves of the country, not to repay China. There was no cancellation of debt, although the port was leased to China for 99 years. There has been no change in ownership. However, as per the lease agreement, a significant portion of the operations in the port will be handled by China Merchant Port company, thus a large portion of the profit, if any, will be earned by CM Port.Leasing out Hambantota port is not evidence of the Chinese debt trap. Instead, it is more of a reflection of the external sector crisis Sri Lanka is facing. It is indeed more alarming and concerning than a Chinese debt trap and reflects a far bigger crisis stemming from the reduction of trade, persistent twin deficits (trade deficit and budget deficit), and the middle income trap.”The Hambantota Port Deal: Myths and RealitiesChina took over the port with an additional investment of $1 billion to upgrade the port and make it a viable working port, for that, it took a 70% stake of a 99 year lease to recover its investment. Why is that a bad deal? If the west thought it was so bad, it could have come to Sri Lanka’s rescue and be a hero. It did not so what does that say about the western criticism?There is no one place to find the information you seek because the loans are from government and corporate sources. Countries like Japan that are investing in the BRI provide their own funding for their projects. It is also amazing that the ‘Business Insider’ now says the BRI is a $4 to 8 trillion dollar project. My recollection is that the estimates before were in the $2 trillion range so is the BRI getting bigger in scope or is that inflation?So the west demonizes China’s BRI as a debt trap when in reality most developing countries are in debt to the IMF and World Bank, American creations for debt by developing countries.

Source: Operation BarbarossaMy impression is that after the Battle of Britain (barring any untoward happenings) it was over for Germany. Game won for the British. Where could Germany go?The Battle of Britain (including the Blitz against London) ended in ca. May 1941.Franco of Spain also saw this. Previously he had been virtually imploring Hitler to let him join the Axis. Following the Battle of Britain Franco had drastically changed his mind.Meanwhile the “Destroyers for Bases Agreement” between the USA and UK on September 2, 1940, and other similar arrangements had gone into effect.The USA gave Britain 50 old not quite usable ships (many of which were never delivered) and Britain gave the USA bases alongside its own bases in the Ocean. In effect henceforth the USA would protect and reinforce British outposts!This meant that it would no longer be possible to thoroughly beat the UK without having to attack US forces.The Lend Lease agreements had begun in March 1941. [The USA officially entered the war about 9 months later.]From now on the whole of the USA economy would be dedicated 24/7 to supplying Britain with whatever she needed and more. Due to a depression the USA production facilities had been under-utilized. There was a lot of slack to make up for, a lot of good workers begging for employment and overtime. Now it was all going to be put in full swing to a degree not previously en-visualized! It was as if the USA had given England a book of blank checks and exhorted her to use them all! Germany did not have the strength and resources to counter all this.Put yourself in German shoes:Your air force has been beaten. The British have a victory and the world is taking notice.You have lost planes and aircrew that will need to be replaced. You were bombing England but now the English are bombing you.In the same way as you are trying to prevent supplies from reaching the British they are blockading you. You have much of central and western Europe under your control but it is not enough. You lack oil, vital metals, and other supplies. You are relying to a great degree on horses whereas your opponents have mechanized horse-power! Your occupation of other lands is causing tension at home and abroad. There is resistance. British Power is growing. Your allies are weakening.[In March 1941 the British had defeated the Italians in North Africa and German forces had been sent in.]It is only a matter of time before your over-extended efforts are forced to contract. You have not got what it takes to cope with the forces against you.A possible alternative might be to try and gain a vast hinterland of your own.Conquering and settling the east had been part of German academic and military contingency planning from before the Nazis were even heard of. Contingency plans, ideological ambitions, and the mental preparations all existed. The spirit and psychological predisposition pointed to invading Russia.It was one chance of survival and it was a basic war aim of German thought. [So too (perhaps), with killing the Jews].So you invade Russia. This might give you the oil and metals and foodstuffs you need, a bridge to the east, a geo-political expanse of people and products to be exploited. This might enable you to resist the coming Anglo-American offensive.The Invasion of Russia ("Barbarossa") took place in June 1941. [Pearl Harbor came later, on December 7, 1941]. Without this Germany was in danger of imploding.Germany also tried to nullify the predominance of Britain by its U-boat campaign against British shipping in the Battle of the Atlantic. This was initially partly successful but ultimately failed.The Allies succeeded in # overcoming German surface raiders by the end of 1942 and defeating the U-boats by mid-1943, though losses due to U-boats continued until the war's end .#

Must you be wealthy to own and maintain a horse?It depends on where you live and whether or not you are starting from scratch. I am not wealthy and I have five horses. I live in a rural state on a 123-acre farm. We have our own stable and fenced pasture. We cut and bale our own hay. Our neighbor is a blacksmith (thank god) who charges reasonable fees. We have our horses cold-shoed. One real expense is vet calls — we don’t have many vets in our state, and many (most) do not treat large animals — it’s just not lucrative enough for them. I pay $85 just for the vet to drive down the driveway — any shots or other treatments, plus medications, are extra. We also must buy sweet feed. I have had horses all my life, so I have plenty of tack and clothing which has accumulated over the years.If you live in a rural state, then it may be easier to get started as a horse owner. Landowners like me might have a stall or pasture to rent out. The local riding stables are more reasonable (most are not fancy, but they have the basic amenities) than they might be near a big city or in a very populated area. It also depends on whether you are going to do the care or if you are paying people to care for the horse. Quite frankly, if a person is not doing at least some of the daily chores — feeding, mucking stalls, exercising, training, grooming, bathing — then in my opinion that person is merely a rider. Not a horseman or horsewoman.I grew up outside Washington DC in northern Virginia (Great Falls) and my parents were quite wealthy. I started riding at Potomac Horse Center when I was seven. By the time I was nine, my parents had bought two horses and I began showing. Everything was fancy. Expensive saddles and bridles, expensive trainers and coaches, expensive riding clothes. Yes, it was easier when I was a kid due to my parents’ lifestyle. But owning horses is manageable for me now, just not so fancy.As to acquiring a horse, the old truism is that the least expensive part of owning a horse is his initial purchase price. And it’s a truism because it is true most of the time. Look into leasing a horse. Many horse owners are not using their horses for whatever reason. Maybe a kid away at college or a pony outgrown or an injury. They don’t want to sell the horse (at least at first), but they want the horse to be ridden and loved. (I have also known people who shared a horse, sometimes a horse owner looks for someone else to share so that expenses are kept down. However, I would steer clear of sharing agreements. One of the worst screaming fights I have ever seen at a stable was between two people who were sharing a horse.) But leasing is often an excellent option. And the leasing agreement can include full care of the horse or just partial. You might check bulletin boards at stables or a local horse publication put out by a riding club — many of the leasing arrangements are listed there. Or you might put an ad in the paper or online yourself, listing your qualifications and asking horse owners to contact you. But be good to yourself and get to know the horse before signing anything. And make sure that the lease agreement includes language about injuries and illnesses (to the horse) that occur while you are leasing.So what are the other considerations? To find out, first and foremost, talk to stable owners, riders and other horse owners in your area. Find out about the costs where you live.Here is a partial checklist of potential costs:Tack (Includes saddle, bridle, halter, lead rope, grooming brushes and implements, blanket or sheet, buckets). Look into used tack — most tack shops have great deals and you can find excellent used tack online. Get the best you can afford, but don’t buy top of the line, especially starting out. I recommend you not buy used brushes as they might transmit skin diseases. Brushes are not too expensive.Riding clothes. This is highly personal. If you are already taking lessons, then you probably have clothes already and a hard hat. Ride in whatever suits you and your instructor, but DO NOT SKIMP ON THE HARD HAT! Even many Western riders and saddleseat riders who do not normally wear a hard hat when showing will use one when trail riding or exercising. (A good hard hat has saved me a head injury twice in the many years I have been riding. That may not sound like much, but both of times I had taken a bad spill, and both times the horse’s hoof dented my hardhat, leaving a bruise, but saving me a cracked skull.) You could spend the thousands on riding “togs,” but jeans, heeled hard-soled shoes and a hard hat are all you really need.Blacksmith and Vet. Make sure you understand how much blacksmith visits (usually about every six weeks) and vet calls will cost. Luckily, if you are keeping your horse at a boarding stable, most will have regular vet calls and a sign-up sheet for the blacksmith. So that $85 I referred to that I pay just for the vet to show up would be split by all of the horseowners at the stable. However, if your horse gets sick or injured (and most do at some point), then the vet call is all on you. You must plan for emergencies.Board. Many boarding stables have pricing tiers, from “full” board which includes feeding, grooming, turnout (but not exercise, either mounted or on a lunge line — that’s extra) to some prorated tiers if the horse owner is going to do some of the chores. You might also get a better deal at a boarding stable if you do some chores for the barn, or if you allow your horse to be used for riding lessons. Be sure to ask.Feed. (Includes hay, grain, salt and supplements.) Some horses are more expensive to maintain than others. Generally speaking, a pony or a cold or warm-blood horse is a bit cheaper than a hot-blooded horse like a Thoroughbred or Arab. Try to find a horse to buy who is “an easy keeper.” This means that the horse doesn’t need a bunch of high-priced designer feed, can stand to be in the pasture or turnout in colder weather, and isn’t a cribber/windsucker/stall walker/weaver. Again, if you keep your horse at a boarding stable, the feed may be purchased cooperatively. All of the horseowners might chip in for a truckload of hay, you might be able to purchase sweet feed (or whatever grain you are feeding) in bulk, salt licks may be already out in the turnout. Ask around and try to find the best deal for you.Lessons. Usually a series of lessons is cheaper than buying individually. And it’s usually cheaper to take lessons at your boarding stable, if they are offered, than to bring in an outside instructor. And group lessons are less expensive than private lessons. How many lessons do you need? Well, you can learn to ride by the “get on, fall off, get back on” method. People did that for thousands of years. But why be hard on yourself? Take as many lessons as you need to feel confident around a horse. And not just while riding. As I stated above, if all you want to do is ride, then you should definitely not buy a horse. Use other people’s horses. Have someone else groom and tack the horse before your lesson, and then cool him out, groom and care for him afterwards. But if you really love horses, then you must learn everything you can about their care, physiology and psychology. Read books, talk to other horse people, and hang around the stable absorbing knowledge. Only by performing daily care for a horse (and enjoying it!) can you become a horse person.Horses are an expensive hobby no matter where you live. But with a bit of research and planning, I think most people would be able to make it work for them. The joy, physical exertion and plain satisfaction I get from doing barn chores, riding, teaching children to ride, and just hugging my horse and breathing in her wonderful smell — all of that has added immeasureably to the quality of my life.Best of luck.