Author Topic: Dr Ndii on kenya debt, eurobond, jubilee, and SGR  (Read 22814 times)

Offline RV Pundit

  • Moderator
  • Enigma
  • *
  • Posts: 37009
  • Reputation: 1074446
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #20 on: January 17, 2017, 04:18:31 PM »
If you try to be as objective and as sensible you'll realize they've fulfilled 90% of their pledges and all opinion rating are showing Uhuru win in first round. Jubilee mandate will be huge.
I will interrogate that claim of 90% :

1. Does it include laptops for pupils? The "manifesto" (though I believe it was a roadside declaration) stated "Laptops".

Offline Omollo

  • Moderator
  • Enigma
  • *
  • Posts: 7143
  • Reputation: 13780
  • http://www.omollosview.com
    • Omollosview
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #21 on: January 17, 2017, 05:14:17 PM »
Pundit

I love Literature especially African Literature. Still my favourite African Author after Soyinka is Achebe. He wrote:
Quote
if you see an udala fruit beside a mound of shit, pluck a leaf and cover the shit and take your fruit!
If you try to be as objective and as sensible you'll realize they've fulfilled 90% of their pledges and all opinion rating are showing Uhuru win in first round. Jubilee mandate will be huge.
I will interrogate that claim of 90% :

1. Does it include laptops for pupils? The "manifesto" (though I believe it was a roadside declaration) stated "Laptops".
... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

Offline RV Pundit

  • Moderator
  • Enigma
  • *
  • Posts: 37009
  • Reputation: 1074446
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #22 on: January 17, 2017, 05:21:28 PM »
Sounds like opposition is running on empty. Corruption is the only one I concede. Jubilee have developed the country equally and so tribalism ni yako tu. As for Land - Jubilee has done so much here  -giving out 3.2 million of titles - and settling all IDPS - by giving them each 400k to buy wherever they like - and settled Waitiki land problem like the boss he is. Where Jubilee initially struggled was security and corruption. Security after Ole Lenku and Kimaiyo disaster has improved and it only corruption that Jubilee failed.

Kenyans are very smart people. Raila in 2013 was running on empty with nothing to show for NARA and was resoundingly rejected. Jubilee ratings is 55% plus. They will win election with HUGE MANDATE. Kenyans knows when a gov has performed. Nobody is taking kenya to confused, rudderless, leaderless and clueless opposition to quote Ruto.

Jubilee would have done 63% (super majority) if it was not for lackluster corruption fight. That is my biggest disappointment. They've done the most in fighting graft - but we are in such huge hole - doing enough is not good enough.

To cap it all Uhuru settled problems like teacher/KNUT/dockers union/exams like a boss. What remained is this doctors thing that was devolved and where counties take the blame. This country you feel is on the right track...we just have to curb corruption..otherwise the future is looking really bright.

Pundit

I love Literature especially African Literature. Still my favourite African Author after Soyinka is Achebe. He wrote:
Quote
if you see an udala fruit beside a mound of shit, pluck a leaf and cover the shit and take your fruit!
If you try to be as objective and as sensible you'll realize they've fulfilled 90% of their pledges and all opinion rating are showing Uhuru win in first round. Jubilee mandate will be huge.
I will interrogate that claim of 90% :

1. Does it include laptops for pupils? The "manifesto" (though I believe it was a roadside declaration) stated "Laptops".

Offline MOON Ki

  • Moderator
  • Enigma
  • *
  • Posts: 2667
  • Reputation: 5780
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #23 on: January 17, 2017, 05:45:09 PM »

Pay careful attention to the following, because you are about to learn something useful:
"" does not necessarily tell one a great deal, for several reasons,  one basic one being that the same money may be counted several times. X sends 100 shilings to Y through MPESA; Y uses it to pay U, V, and W through MPESA; the latter then use it to ... through MPESA; etc. The same money gets counted over and over again; in the meantime, all those transfers might have little or  even no effect on GDP.   And so on, and so forth.   

There are numerous discussions out there on the volume of money that go through MPESA.  The following are a couple of examples (that might reduce some of your excitement):

Quote
43% of Kenya's GDP is sent through M-PESAIn actuality, M-PESA flows are roughly equal to the transaction flows of one According to the Central Bank, mobile money contributes to 6.59% of the total national payments throughput value (including both gross and retail) but a staggering 66.56% of the total NPS throughput volume.
http://www.cgap.org/blog/10-myths-about-m-pesa-2014-update

and

Quote
Actually, cash is still king in Kenya. Although 62% of Kenyans are active mobile money users, among the 300 low-income households that took part in the recently released Kenya Financial Diaries, just 1% of expenditures (mostly airtime top-ups) and 3% of all transactions were made electronically.
MOON Ki  is  Muli Otieno Otiende Njoroge arap Kiprotich
Your True Friend, Brother,  and  Compatriot.

Offline RV Pundit

  • Moderator
  • Enigma
  • *
  • Posts: 37009
  • Reputation: 1074446
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #24 on: January 17, 2017, 05:53:18 PM »
I knew that and have known it for a long time - I doubt there is anything I can learn from you about M-pesa. Used to be 2% (value) but now it's approaching 10%. That is significant and breathtaking. M-pesa will not replace RTGS or SWIFT for example - where companies pay each other billions of shs in one transaction - but will replace all small time transactions- M-pesa it growing at impressive level - both in value & volume of transaction. Remember this technology is yet to celebrate it's 10th anniversary.

And beside m-pesa have cap of max transaction per day at about 1000 usd - so you cannot expect it to compete on value with swift or rtgs. Certainly in transaction volume ....it one of world busiest payment platform...even the likes of visa/mastercard/paypall...may not be that busy...handling more than 1000 transaction every second...and by now it should he handling more than 6B transactions annually.


Pay careful attention to the following, because you are about to learn something useful:
"" does not necessarily tell one a great deal, for several reasons,  one basic one being that the same money may be counted several times. X sends 100 shilings to Y through MPESA; Y uses it to pay U, V, and W through MPESA; the latter then use it to ... through MPESA; etc. The same money gets counted over and over again; in the meantime, all those transfers might have little or  even no effect on GDP.   And so on, and so forth.   

There are numerous discussions out there on the volume of money that go through MPESA.  The following are a couple of examples (that might reduce some of your excitement):

Quote
43% of Kenya's GDP is sent through M-PESAIn actuality, M-PESA flows are roughly equal to the transaction flows of one According to the Central Bank, mobile money contributes to 6.59% of the total national payments throughput value (including both gross and retail) but a staggering 66.56% of the total NPS throughput volume.
http://www.cgap.org/blog/10-myths-about-m-pesa-2014-update

and

Quote
Actually, cash is still king in Kenya. Although 62% of Kenyans are active mobile money users, among the 300 low-income households that took part in the recently released Kenya Financial Diaries, just 1% of expenditures (mostly airtime top-ups) and 3% of all transactions were made electronically.


Offline MOON Ki

  • Moderator
  • Enigma
  • *
  • Posts: 2667
  • Reputation: 5780
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #25 on: January 17, 2017, 06:06:56 PM »
I knew that and have known it for a long time .

OK.   That wasn't obvious from the excitement shown in your last "post".

Quote
M-pesa it growing at impressive level - both in value & volume of transaction. Remember this technology is yet to celebrate it's 10th anniversary.

True.  Vodafone has done very well with this innovation, and in places like Kenya, it just has to sit back and watch the money flow.

Quote
Certainly in transaction volume ....it one of world busiest payment platform...even the likes of visa/mastercard/paypall...may not be that busy...handling more than 1000 transaction every second...and by now it should he handling more than 6B transactions annually.

What is the source of your data?
MOON Ki  is  Muli Otieno Otiende Njoroge arap Kiprotich
Your True Friend, Brother,  and  Compatriot.

Offline RV Pundit

  • Moderator
  • Enigma
  • *
  • Posts: 37009
  • Reputation: 1074446
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #26 on: January 17, 2017, 06:12:00 PM »
M-pesa is as kenyan as it's get. Most of our banks ran some Swiss banking software ( T24) or Indian one - including in the US - bu that doesn't make it Swiss or Indian technology. M-pesa is the whole ecosystem - the software behind this can be written in one afternoon (m-pesa was actually written as grant -csr for some small time ngo- but vodafone monetized it when it flew off in kenya) - but will it work? No one has replicated what Kenya has done. I go to Uganda alot - they've m-pesa like tech - but nothing on the scale and sophistication you see in kenya - lipa na m-pesa/paybills/buygood - m-pesa loans - etc. they are stuck in p2p - kenya is moving ahead to make m-pesa a real payment system - something that didn't exist 10yrs ago.

If value of transaction is an issue...CBK will step in and increase the cap...but I think it a non-issue.

I knew that and have known it for a long time .

OK.   That wasn't obvious from the excitement shown in your last "post".

Quote
M-pesa it growing at impressive level - both in value & volume of transaction. Remember this technology is yet to celebrate it's 10th anniversary.

True.  Vodafone has done very well with this innovation, and in places like Kenya, it just has to sit back and watch the money flow.

Offline Omollo

  • Moderator
  • Enigma
  • *
  • Posts: 7143
  • Reputation: 13780
  • http://www.omollosview.com
    • Omollosview
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #27 on: January 17, 2017, 09:56:47 PM »
Sounds like opposition is running on empty. Corruption is the only one I concede.
Note that it is not a small issue when people start call a government "Serikali ya Wezi". They see the opulence displayed by the thieves and wonder what it is they should do about it.

It is that corruption that has undermined ALL the projects you are boasting of:
1. Laptops dropped instead cheap Chinese tablets introduced - and not from a credible company as was earlier stated. Tenders cancelled a million times until thieves got the tender or people gave up
2. SGR - people can see how the rains wash away huge portions of it. The trains promised aren't the ones to be seen. Yet people have enriched themselves from it
3. We see roads started by Kibaki either being abandoned incomplete or Jubilee taking credit for them
Quote
Jubilee have developed the country equally and so tribalism ni yako tu.
How many times have coffee farmers had their personal loans in banks paid up? It is a yearly thing. Like I said before I would like to become a coffee farmer in Central: I borrow money and Muthamaki pays it in time for me to take another the following year.

How equal is that when the same is not extended to other areas? You will name Mumias and SONY. I hope you will know the difference between money to repay debts owed to GEMA companies by these factories and money to rescue farmers. I will return to that when you raise it.

Is not Uhuru who shamelessly told Waitiki land thieves that he can not pay their loans because they did not vote for him? (For the record I am against the government buying that land. The man should have been given his land back and sold it if he so wished. Failure of law and order. We have a police to enforce court orders, for crying out aloud!)

Quote
As for Land - Jubilee has done so much here  -giving out 3.2 million of titles - and settling all IDPS - by giving them each 400k to buy wherever they like - and settled Waitiki land problem like the boss he is.
Do you mean the fake title deeds? The ones nullified by the High Court? How on earth can a politician be given the power to prepare and issue title deeds? In corrupt Kenya?

Or may be the idea was just the show and PR? There is a report on Land grabbing augmented by the TJRC report. Why has Uhuru refused to implement it? Why are people like Nkaissery - a mass murderer - instead been appointed to high office again? Is it to tap their killing propensity for Jubilee? He has not disappointed and came straight with Nyayo Dictatorial Roadside Shoot To Kill Orders!!
 
Quote
Where Jubilee initially struggled was security and corruption. Security after Ole Lenku and Kimaiyo disaster has improved and it only corruption that Jubilee failed.
You live abroad. Insecurity is still a major problem in Kenya. Just ask Safaricom about their Mobile Phone masts. Business would grow at astronomical speed and the country could hit 10% growth per annum if security improved. Instead mama mbogas have to start winding down their businesses by four or earlier to make it home and avoid being robbed and raped on the way home. Once home, they have to barricade windows and doors to ward off gangs and rapists.

If you are talking of the Al Shabaab menace I expect more attacks as Trump starts asking where the money went. Madobe will be given fresh orders to stage attacks.

BTW what happened to the Public Inquiry Uhuru promised after Westgate? Is he afraid his hand will appear? How about Mpeketoni? The two Quarry Massacres? The Mandera Bus Massacre and the Garissa University Massacre? The list is endless. That is Jubilee's legacy

Quote
Kenyans are very smart people. Raila in 2013 was running on empty with nothing to show for NARA and was resoundingly rejected.
We can discuss our manifestos another day. If Raila could not show anything for NARA what did Uhuru show? He was the Deputy Prime Minister who had run down KANU and watched as Kibaki poached turncoats like Koech to appoint as ministers, was he not?

You have yet to explain how it came to pass that millions went to polling stations to vote for only him and then disappear. Who transferred voters from other parts of the country to Uhuru strongholds to avoid over 100% voting? Could it be the fact that TNA shared a server with IEBC? We know the same edifice has been set up in State House for 2017 August!

Quote
Jubilee ratings is 55% plus. They will win election with HUGE MANDATE. Kenyans knows when a gov has performed.
So do you now believe the polls that Kibaki planted out there in the run up to 2007? You changed but the Modus Operandi of the thieves did not Pundit. They continue to cook figures and polls and throw up statistics like always. This time it won't work.

Quote
Nobody is taking kenya to confused, rudderless, leaderless and clueless opposition to quote Ruto.
That is his propaganda from the talking points given to him attached to the limited cash they now hand to him to campaign. Poor man they are undermining him harder than they are hitting at Raila.

We have a term in Dhuluo which refers to banana cooking. If the fire blows out because you ran out of firewood before they are cooked that is the end. Kwisha no matter what you do, eventually you can salvage them as cow feed. Ruto is finished, he just does not know it and that is why we no longer attack him except to shake him a bit.

Quote
Jubilee would have done 63% (super majority) if it was not for lackluster corruption fight. That is my biggest disappointment. They've done the most in fighting graft - but we are in such huge hole - doing enough is not good enough.
That is a bad dream
Quote
To cap it all Uhuru settled problems like teacher/KNUT/dockers union/exams like a boss. What remained is this doctors thing that was devolved and where counties take the blame. This country you feel is on the right track...we just have to curb corruption..otherwise the future is looking really bright.
KNUT leadership is pro Jubilee and some of us were only too pleased to see them humiliated and forced to accept any deal. Remember I offered a solution to one of their operatives (God only knows what happened to him, he went AWOL)

Exams: The jury is still sequestered.

Dockworkers: He can take credit and take it again when they strike as their jobs go to Naivasha. Fortunately we shall stop the Naivasha experiment.
... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

Offline RV Pundit

  • Moderator
  • Enigma
  • *
  • Posts: 37009
  • Reputation: 1074446
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #28 on: January 18, 2017, 08:21:08 AM »
Omollo, Sorry but I don't do long posts. And I am sure I won't convince you about Jubilee success. In my view Jubilee have been the most effective gov the last four years. Kenya has done so much this last few years. I am happy I voted for Jubilee and look forward to voting them in again. GoK which has been dysfunctional from Kibaki-Raila 10yrs  is now one mean machine. Jubilee can do way more - the fight against graft is where all attention is needed - I see CS wario will be charged for Rio mess (kudos!) - we need to keep the fight on - so far that makes about 6-7 CS (ministers) fired over graft!

Jubilee has fulfilled their manifesto. They need to come up with new manifesto. I expect completely free secondary education. I expect universal electricity coverage. I expect 50,000 kms of low seal bitumen roads all over kenya. I expect universal health insurance.  That should be Uhuru legacy in 2022 and we can begin on Ruto regime - which I believe will be truly transformative.

Once registration is done...we will do MOAS...but Jubilee are sitting pretty.

Offline hk

  • VIP
  • Enigma
  • *
  • Posts: 1384
  • Reputation: 16501
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #29 on: January 18, 2017, 12:35:25 PM »
M-pesa is as kenyan as it's get. Most of our banks ran some Swiss banking software ( T24) or Indian one - including in the US - bu that doesn't make it Swiss or Indian technology. M-pesa is the whole ecosystem - the software behind this can be written in one afternoon (m-pesa was actually written as grant -csr for some small time ngo- but vodafone monetized it when it flew off in kenya) - but will it work? No one has replicated what Kenya has done. I go to Uganda alot - they've m-pesa like tech - but nothing on the scale and sophistication you see in kenya - lipa na m-pesa/paybills/buygood - m-pesa loans - etc. they are stuck in p2p - kenya is moving ahead to make m-pesa a real payment system - something that didn't exist 10yrs ago.

If value of transaction is an issue...CBK will step in and increase the cap...but I think it a non-issue.

I knew that and have known it for a long time .

OK.   That wasn't obvious from the excitement shown in your last "post".

Quote
M-pesa it growing at impressive level - both in value & volume of transaction. Remember this technology is yet to celebrate it's 10th anniversary.

True.  Vodafone has done very well with this innovation, and in places like Kenya, it just has to sit back and watch the money flow.
Mpesa impact on the poor http://news.mit.edu/2016/mobile-money-kenyans-out-poverty-1208

Offline Omollo

  • Moderator
  • Enigma
  • *
  • Posts: 7143
  • Reputation: 13780
  • http://www.omollosview.com
    • Omollosview
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #30 on: January 18, 2017, 04:36:39 PM »
How many of those charged have been convicted? How come the DPP fails to attend court and asks for unending adjournments? Confirm that Amos Kimunya is running on a Jubilee ticket in Kipipiri.

Omollo, Sorry but I don't do long posts. And I am sure I won't convince you about Jubilee success. In my view Jubilee have been the most effective gov the last four years. Kenya has done so much this last few years. I am happy I voted for Jubilee and look forward to voting them in again. GoK which has been dysfunctional from Kibaki-Raila 10yrs  is now one mean machine. Jubilee can do way more - the fight against graft is where all attention is needed - I see CS wario will be charged for Rio mess (kudos!) - we need to keep the fight on - so far that makes about 6-7 CS (ministers) fired over graft!

Jubilee has fulfilled their manifesto. They need to come up with new manifesto. I expect completely free secondary education. I expect universal electricity coverage. I expect 50,000 kms of low seal bitumen roads all over kenya. I expect universal health insurance.  That should be Uhuru legacy in 2022 and we can begin on Ruto regime - which I believe will be truly transformative.

Once registration is done...we will do MOAS...but Jubilee are sitting pretty.
... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

Offline Omollo

  • Moderator
  • Enigma
  • *
  • Posts: 7143
  • Reputation: 13780
  • http://www.omollosview.com
    • Omollosview
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #31 on: January 18, 2017, 04:39:11 PM »
... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

Offline Omollo

  • Moderator
  • Enigma
  • *
  • Posts: 7143
  • Reputation: 13780
  • http://www.omollosview.com
    • Omollosview
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #32 on: January 18, 2017, 04:45:58 PM »
Quote from: David Ndii
Four years ago, the Jubilee administration mesmerised Kenyans with fantastic images of mega-infrastructure, bullet trains and space age airports, iconic stadiums, bewildering interchanges and blooming deserts.

All these were a pretext for an unprecedented borrowing spree, and plunder, plunder that beggars belief.

  • They borrowed US$4 billion (Sh415 billion) to build a 500km single track railway with a maximum diesel-powered train speed of 120kph and 80kph for passenger and cargo trains, respectively.
  • For the same amount of money, Morocco has just completed Africa’s first high-speed rail, a 350 dual track railway (700km of rail) with a maximum speed of 320kph.
  • Upgrading the existing railway line would have achieved the same performance as the new Standard Gauge Railway (SGR)for a quarter of the cost.
  • The balance would have financed the new Lamu Port, a railway, a highway, and have enough left for one or two small projects.
  • Yet recently, the same administration has decided that it will transport crude oil from Turkana to Mombasa by road.
  • With two railways running parallel to each other, Jubilee is going to put more trucks on the road.
  • Why? Because trucking will put money in private pockets, pockets of powerful people.
  • These are the same vested interests that undermined Kenya Railways. The SGR has been set up to fail before it has been commissioned.
http://www.nation.co.ke/oped/Opinion/Jubilee-is-destroying-Kenya--time-for-Opposition-to-rule/440808-3516492-usxdl4/index.html
... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

Offline Omollo

  • Moderator
  • Enigma
  • *
  • Posts: 7143
  • Reputation: 13780
  • http://www.omollosview.com
    • Omollosview
Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
« Reply #33 on: January 18, 2017, 04:50:29 PM »
    Quote from: David Ndii
    A BIG LIE

    • They borrowed US$ 2.8 billion (Sh290 billion) by floating sovereign bonds (Eurobond).
    • There is no evidence where US$ 2.2 billion (Sh228 billion) went — we only know that US$605 million was used to pay off a loan.
    • The Jubilee government has lied to Kenyans that this money was put in the budget and disbursed to ministries for various development projects in the FY 2014/15.
    • This is impossible. Many Kenyans will know that one of the government’s big problem is “absorption” of development budget.
    • We were told the Eurobond money would reduce the government domestic borrowing, and interest rates would come down.
    • But Jubilee has also doubled our domestic debt.
    • Interest rates cannot decline when the government is spending one third more than income year after year.
    • In recent days, we have seen the President struggling to find Jubilee projects to launch.
    • He’s launching anything he can find, even donor financed footbridges.
    • Those who know Nairobi well will be familiar with the new buildings coming up in Upper Hill such as the recently completed UAP Tower and the Britam Tower under construction.
    • The Eurobond money we are talking about is enough to build 40 of those, yet the President cannot find a single new Jubilee project to launch.
    ... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

    Offline Omollo

    • Moderator
    • Enigma
    • *
    • Posts: 7143
    • Reputation: 13780
    • http://www.omollosview.com
      • Omollosview
    Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
    « Reply #34 on: January 18, 2017, 04:54:32 PM »
    Quote
    PATHWAY OF DEBT
    • Many of you will recall that in October 2015, the government suffered a major cash crunch. This was addressed by taking out a commercial loan of US$750m (Sh77 billion). But this was not enough.
    • A few months later in April last year, the Jubilee government borrowed an additional US$600m (Sh62 billion) to plug the deficit.
    • These are huge loans. Before Jubilee, our single largest loan was Sh30 billion for the Thika highway.
    • Jubilee has no qualms borrowing four times as much to plug a budget deficit.
    • We now know that most of this money has been stolen or squandered, carted away in gunny bags (if Josephine Kabura is to be believed), cashed out in exchange for useless containers rusting away in Mombasa, frittered in obscene harambee largesse to buy acquiescence to the plunder and to sear the moral conscience of the nation.

    • Many people think that these loans are a burden to our children and future generations.
    • Not so. We are paying now. Jubilee has put the country on a debt treadmill.
    • We have to keep borrowing or we will collapse.
    • Before Jubilee, we were spending only Sh20 out of Sh100 of tax revenue to service debt.
    • This figure is now approaching Sh40 out of Sh100 and rising rapidly.
    ... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

    Offline Omollo

    • Moderator
    • Enigma
    • *
    • Posts: 7143
    • Reputation: 13780
    • http://www.omollosview.com
      • Omollosview
    Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
    « Reply #35 on: January 18, 2017, 04:57:43 PM »
    Quote
    DOWNWARD SPIRAL
    • Before Jubilee, interest on foreign debt was costing us less than $5 out of every $100 dollars of foreign exchange earnings.
    • Today, it is costing us $15 dollars, and rising fast.
    • Spending 40 per cent of our revenue servicing debt means less money to provide services.
    • It is also a threat to devolution. The constitution mandates national priorities before the counties revenue share is determined.
    • Debt service is one of these national priorities.
    • This means that the more debt service outlays, the lower the revenue there is to be shared.
    • In addition to undermining provision of public services, this debt treadmill is a serious threat to our economic stability.
    • Unlike the long-term soft loans we borrow from development institutions such as the World Bank, African Development Bank and others, these recent commercial loans are short-term “bullet payment” loans, and very expensive.
    • Bonds have to be redeemed in full when they mature, which means refinancing by issuing new bonds.
    • The US$750 million commercial loan borrowed to plug the deficit falls due in October.
    • In early 2019, the first tranche of Eurobond will mature.
    ... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

    Offline Omollo

    • Moderator
    • Enigma
    • *
    • Posts: 7143
    • Reputation: 13780
    • http://www.omollosview.com
      • Omollosview
    Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
    « Reply #36 on: January 18, 2017, 05:00:44 PM »
    Quote
    ECONOMIC COLLAPSE
    • What I am saying is not unusual. We all know about Greece.
    • Mozambique is going through the same as we speak, after defaulting on bonds payments for money it claimed was for a fishing fleet, but which was squandered on military hardware.
    • Oil rich Angola is in the throes of an economic crisis after borrowing and squandering more than US$20 billion dollars from China (a quarter of all money China has lent to Africa).
    • Now more than half their oil is going to China to pay the debts. They are struggling to pay salaries.
    • We have a penchant for believing bad things only happen to other people.
    • Just as we thought that we were an island of peace until 2007, we like to think that we are the undisputed economic giant of the region.
    • Well, not too long ago, Kenya Airways was the undisputed giant of the African skies.
    • Kenya Airways has been brought to its knees by reckless debt-financed expansion, but fundamentally by hubris — Jubilee type hubris.
    • We have been here before. After losing the battle to maintain the one-party state, and looking at the prospect of losing power, the Moi regime engineered Goldenberg and other looting schemes that nearly bankrupted the country.
    • But the Opposition fractured, and the Moi administration survived — with only a third of the presidential vote.
    • Five years later, we could see clearly that if the Opposition did not unite, the Moi regime would run the country to the ground.
    ... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

    Offline RV Pundit

    • Moderator
    • Enigma
    • *
    • Posts: 37009
    • Reputation: 1074446
    Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
    « Reply #37 on: January 18, 2017, 05:02:41 PM »
    Nonsense from Dr Ndii that have failed to get any traction years later. Amazingly he makes not a SINGLE sensible argument. Jubilee deserves Kudos for floating the first ever Eurobond - kenya and many countries have tried to do this - and I am glad we might soon be floating another Eurobond. This is our developed countries easily finance their projects - by tapping into huge debt market - rather than borrowing internally. We borrowed less in that yr and all Eurobond monies have been accounted for.The issue of SGR has been clarified severally. We couldn't upgrade MGR because of that rail-line has been concession-ed till 2025 by both Kenya and Uganda.We are getting Class A rail with ability to move 20-30m tonnes and have really long tunnels to ensure tsavo & nairobi national park are unaffected. Ethiopia will get class 2 rai.lway coz they need to move mere 10m metric tonnes.

    We can go on and on...by dr ndoom..should realize that our economy cannot grow at 6% if there was massive looting & mismanagement going on.

    We can take more debt - coz we have the ability to repay - our economy is way bigger than in NARA (after re-basing in 13/14) - our tax collection is growing at double digit - set to collect 14B USD this year.

    Offline Omollo

    • Moderator
    • Enigma
    • *
    • Posts: 7143
    • Reputation: 13780
    • http://www.omollosview.com
      • Omollosview
    Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
    « Reply #38 on: January 18, 2017, 05:07:11 PM »
    Nonsense from Dr Ndii that have failed to get any traction years later.
    Typical jubilee thinking: Truth by majority vote
    ... [the ICC case] will be tried in Europe, where due procedure and expertise prevail.; ... Second-guessing Ocampo and fantasizing ..has obviously become a national pastime.- NattyDread

    Offline RV Pundit

    • Moderator
    • Enigma
    • *
    • Posts: 37009
    • Reputation: 1074446
    Re: Dr Ndii on kenya debt, eurobond, jubilee, and SGR
    « Reply #39 on: January 18, 2017, 05:19:39 PM »
    You can lie to others but not me. Under NARA - when economy was being "well managed" - by Raila & Kibaki - economy was growing at - 2012/2013 - about 3.4%- Jubilee have steadily move that growth from 4% to 5%(2015) to 6.2% in 2016 & we shall soon do(7%).1% in 70B usd gdp is 0.7B - 6% is 3.6BUSd (more than SGR loan). Jubilee is adding 400B to the economy every year.

    Where was Dr Doom when economy was growing at 3.4% in 2012 - and - now he comes predict doom - when the economy is growing at 6.2%! Nearly double what NARA did?

    This is by far the best regime - when all is considered. Kibaki took over from really low base after Moi mess -he tried economically - but he screwed up politically & in all other areas - so landed us in kenya lowest point (2017) when we nearly went into civil war.

    Jubilee will win by huge margin coz kenyans are not stupid.

    Typical jubilee thinking: Truth by majority vote