Nipate
Forum => Kenya Discussion => Topic started by: KenyanPlato on January 19, 2024, 12:49:35 PM
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https://www.citizen.digital/business/kenya-to-exit-g2g-oil-deal-admits-failure-to-fix-unstable-shilling-dollar-rate-n335091
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It was bound to fail from day one. Our problem in Kenya is our planers come out with ideas that will mainly line their pockets. They do not have the nation at heart.
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Which Treasury is githeri media talking about? They extended the facility to December 2024.
IMF is the one worried about exposure to banks issuing the Letters of Credit.
https://www.imf.org/en/Publications/CR/Issues/2024/01/17/Kenya-2023-Article-IV-Consultation-Sixth-Reviews-Under-the-Extended-Fund-Facility-and-543889
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If they don't keep an eye on G2G deal it might take KCB down with it. I hear things are thick over there. Might be gasping for air. Sad part with high taxation the government has been unable to meet tax targets. Ballon payment due. I see no way out of default.