Nipate
Forum => Kenya Discussion => Topic started by: vooke on September 22, 2021, 01:29:12 PM
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Ruto/Babu will have perpetual nightmares running from the moment they are sworn in to when they kuffdead paralyzed by sheer helplessness as they attempt to make sense of Uhunye mess
ECONOMYKenya seeks IMF aid to repay China loansTUESDAY SEPTEMBER 21 2021
Public Debt Management Office Director General Haron Sirima. FILE PHOTO | NMG
By CONSTANT MUNDA
More by this AuthorSUMMARY
Kenya is considering using funds from the International Monetary Fund (IMF) to repay Chinese loans after it dropped an earlier request to defer debt payments.SDRs are the IMF’s unit of exchange based on sterling, dollars, euros, yen and yuan, and can be used to settle obligations like repayment of foreign public debt.
Kenya is considering using reserves from the International Monetary Fund (IMF) to compensate for Chinese loans it repaid after the Treasury dropped an earlier request to defer debt payments.
The Treasury says it could use its additional allocation of IMF reserves in Special Drawing Rights (SDR) assets, which can be converted to government-backed money, as one of the options to plug the budget hole.
SDRs are the IMF’s unit of exchange based on sterling, dollars, euros, yen and yuan, and can be used to settle obligations like repayment of foreign public debt.
Director-general for public debt management office at the Treasury Haron Sirima said Kenya has an a raft of options including “use of additional SDR allocation by the IMF” to fill the cash hole left after Nairobi started to service loans from China in July.
Kenya had expected to extend a debt repayment moratorium from bilateral lenders, including China, which started in January 2021, by another six months to December 2021, saving it from making payments of nearly Sh50 billion to Beijing lenders.
Chinese lenders, especially Exim Bank, were uncomfortable with Kenya’s push for extension of the debt service suspension with rich nations, prompting delays in disbursements to projects funded by Chinese financiers.
This forced Nairobi to drop its push for the debt repayment holiday extension by China for fear of straining relations with Kenya’s biggest bilateral creditor.
https://www.businessdailyafrica.com/bd/economy/kenya-seeks-imf-aid-repay-chinese-loans-3557198
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The proverbial digging hole to fill hole. Endless drama.
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Such reckless talk will plunge the country further into a hole. The economy is a confidence game.
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Mlevi 1 drove the country to a ditch. Choices do have consequences Sasa watu wakule ujeuri Yao. Btwn this is not a Jubilee 2.0 problem but the rain started beating us in 2013.
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Such reckless talk will plunge the country further into a hole. The economy is a confidence game.
Covering it up makes it better?
Better no confidence where there is no grounds for confidence than deception
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Good investment by China, they have done their homework. I can only commend them.
Mweus is truly hapless.
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Managing an economy or company - SENTIMENT is very important. You need to watch your words. One TWEET from Elon Musk can wipe off billions from his Telsa.
The reason - economy most of the time is about predicting the future - if you say something reckless like that - USD/forex exchange will go haywire - sending the economy into a spiral - and soon become a self-fulfling prophesy -and getting out of there is very hard - ask Zimbwabwe.
This reckless kind of talk need to be curbed. The Borana it obvious intend to quit and join politics. Uhuru should get someone else - as long as it's not Ngumi. Even KiMunya is better.
Covering it up makes it better?
Better no confidence where there is no grounds for confidence than deception
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We are not as opaque as Iran or TZ. Data is freely available. That's how Ndii got famous by questioning SGR and Eurobond. Spinning bullshit under such circumstances is not going to work.
Negro was actually frothing at peak optimism but it's bad
Managing an economy or company - SENTIMENT is very important. You need to watch your words. One TWEET from Elon Musk can wipe off billions from his Telsa.
The reason - economy most of the time is about predicting the future - if you say something reckless like that - USD/forex exchange will go haywire - sending the economy into a spiral - and soon become a self-fulfling prophesy -and getting out of there is very hard - ask Zimbwabwe.
This reckless kind of talk need to be curbed. The Borana it obvious intend to quit and join politics. Uhuru should get someone else - as long as it's not Ngumi. Even KiMunya is better.
Covering it up makes it better?
Better no confidence where there is no grounds for confidence than deception
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Gov should remain as optimistic as Baghdad Bob or Comical Ali - even when Sadam Hussein is gone - he should promise the US a big war.
We are not as opaque as Iran or TZ. Data is freely available. That's how Ndii got famous by questioning SGR and Eurobond. Spinning bullshit under such circumstances is not going to work.
Negro was actually frothing at peak optimism but it's bad
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When the looting happened in 1997 some opposition leaders were actually glad Moi rigged himself back to power. Some who benefited at the time are still benefiting from thievery.
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It is over for kenya. We are headed to become another Malawi or Zambia. Kenya finally joined hopeless nations like Ghana. From now on it is kilumi dance with no progress. It will take another 30 years to even put a dent to this debt mess. Kenya is fucked beyond redemption. A failed nation that should have a collective funeral and mourn its past glory if there was any. In 20 years Kenya will experience a big crises of old generation x that will have no income to survive. Poverty will multiply.
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The consensus is that kenya has technically defaulted. It can't come at bad time for kenya. No one in Washington has a appetite for ever begging africans. China has no time
Pundit his is your looking east bravado working out of jubilee. How is the insolvent sgr boosting the economy? I remember the yards of insha you spun on this board about how they dynamic screwballs would industrialize kenya
Kenya is a poor country that had no ability to support mega infrastructure projects. Live within your means
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Not so fast. Ruto will rescue kenya.
The consensus is that kenya has technically defaulted. It can't come at bad time for kenya. No one in Washington has a appetite for ever begging africans. China has no time
Pundit his is your looking east bravado working out of jubilee. How is the insolvent sgr boosting the economy? I remember the yards of insha you spun on this board about how they dynamic screwballs would industrialize kenya
Kenya is a poor country that had no ability to support mega infrastructure projects. Live within your means
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Ruto will rescue kalenjin nation. That his main role. Hiyo ingine ni kelele
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We dont have unique problems
Ruto will rescue kalenjin nation. That his main role. Hiyo ingine ni kelele
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Let us wait and in 5 years we can see if I was wrong. I have a good track record in telling how the future of these Administrarions will be.
Uhuru and kibaki I was here telling you they will be a disaster. Ruto is not exception
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Give Ruto a chance. Ruto is not Moi. He is a Kagame or Meles Zenawi or Museveni. He will be the greatest ever because he is passionate, intelligent and hardworking.
Ruto steal because you need money in kenya politics - the same way Kagame kills - Ruto has to use money - because without money he would be like Kivuthas and many other idealistic candidates. Ruto coz he is very smart realized early that without money in kenya politics - you can as well go home. That is why Uhuru an average mlevi is PORK. Mama Ngina bought it for him.
Let us wait and in 5 years we can see if I was wrong. I have a good track record in telling how the future of these Administrarions will be.
Uhuru and kibaki I was here telling you they will be a disaster. Ruto is not exception
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You have a lot of faith on a single individual. Even museveni didn't rise to power as a individual but a leader of a movement that was supported by many locally and internationally. You are blinded. Kenya is complicated to be turned around by one person. Our chance to engineer kenya died with narc. That was the time to harness of the struggle of over 30 years into change.
Ruto won't achieve much. As soon as he encounters the first turbulence he will be abandoned by hustlers and he will have to copt others to remain relevant.
Kenya is doomed kabisa
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Ruto lack of integrity is not the only problem. It is his arrogance that will do him in. I just looked at those cheap tent he has in his official residence. It shows his lack of discipline and humility. He is lucky he is dealing with a softie like uhuru. In any other place ruto will be in a lot of trouble but he in kenya he is being let to throw his tantrum. The problem is not ruto alone, it is those that will put him power. Especially kaelnjins trying to contain them will be a tall order. His strength now will be his greatest weakness. See abyi..him being an Oromo moderate was his greatest asset but it has become his biggest liability now
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You continue to understimate Ruto; you see how he has brought Raila and Uhuru to their knees; how he demolished Moi and the rest; Ruto is BIG FORCE. Sio michezo.
Kibaki was intelligent but lacked the political capacity to effect change.
Raila has the political gravitas but lack the intelligence - he is another Moi.
Uhuru without Ruto or Raila is just another random mlevi.
Ruto is the complete politician - who doesnt need anybody to prop him - Uhuru needed Ruto to find his bottom.
Ruto is supremely gifted and kenya will be totally changed if he gets 10yrs.
You have a lot of faith on a single individual. Even museveni didn't rise to power as a individual but a leader of a movement that was supported by many locally and internationally. You are blinded. Kenya is complicated to be turned around by one person. Our chance to engineer kenya died with narc. That was the time to harness of the struggle of over 30 years into change.
Ruto won't achieve much. As soon as he encounters the first turbulence he will be abandoned by hustlers and he will have to copt others to remain relevant.
Kenya is doomed kabisa