Nipate
Forum => Kenya Discussion => Topic started by: gout on July 01, 2024, 01:23:50 PM
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This is indicative of the magnitude of the looting going under the cover of 'public debt'. Explains why globalist has to fly around stashing the loot while telling hasoras he wants more taxes. As others talk of FDI illussions in face of such capital .
Kenyan taxpayers paid $1.53 billion (Sh197.4 billion) in interest on the 2014 Eurobond whose last instalment was repaid last Friday, underlining the heavy cost of reliance on commercial debt to fund the budget.
The interest paid is the equivalent of 55.6 percent of the $2.75 billion (Sh354 billion in Monday’s rate) that the Treasury borrowed in the debut sovereign bond in June 2014.
This bond was sold in two tranches of five and 10 years, split at $750 million (Sh96.5 billion) and $2 billion (Sh257.4 billion) and paying interest at rates of 5.875 percent and 6.875 percent respectively.
https://www.businessdailyafrica.com/bd/economy/how-kenya-paid-sh197bn-interest-on-debut-eurobond--4675074
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This is worse than trump’s lies
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Wait till 2034 when we pay the new Eurobond. The new interest rate is at 9.75%. This is the highest interest rate any African country has ever paid for the Eurobond. The interest rate of the just repaid one was at 6.875%. We will bleed to death. The crazy thing is nobody till today can pinpoint what where the Eurobond billions went to.
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Why would anyone refinance at a higher rate??? DUH
10% is too high...
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Because we had no choices. Either default or pay higher interest rates.
Why would anyone refinance at a higher rate??? DUH
10% is too high...