Ruto Backtracks In his fight with Moody Ratings-

[Nowayhaha]

• Tweet

https://www.kenyans.co.ke/news/92015-govt-makes-u-turn-eurobond-payment-after-investors-warning

[Githunguri]

Ruto needs to borrow money locally,convert it into dollars and pay the eurobond at the prevailing market price.

We borrowed the eurobond when the USD KES was I think 86,It's now 150.The debt has doubled.That means the investors are benefiting at the expense of Kenyans.If the shilling heads to 200 in 10 years,that means more pain.

Solution.Borrow locally and pay it.

All developed nations have defaulted at some point even USA.

Who are these so called investors?Where are they located?

Having a dollar loan was the most stupid thing Uhuruto did.

[Kadudu]

Why not first ask ourselves what projects were financed  by the already borrowed Eurobonds? As far as I am concerned the Eurobonds were marketed as inftrastructure bonds. Most of the infrastruture between 2013 and 2022 was finaced using loans. So where are the projects financed by the Eurobonds?

Ruto needs to borrow money locally,convert it into dollars and pay the eurobond at the prevailing market price.

We borrowed the eurobond when the USD KES was I think 86,It's now 150.The debt has doubled.That means the investors are benefiting at the expense of Kenyans.If the shilling heads to 200 in 10 years,that means more pain.

Solution.Borrow locally and pay it.

All developed nations have defaulted at some point even USA.

Who are these so called investors?Where are they located?

Having a dollar loan was the most stupid thing Uhuruto did.

[Githunguri]

Why not first ask ourselves what projects were financed  by the already borrowed Eurobonds? As far as I am concerned the Eurobonds were marketed as inftrastructure bonds. Most of the infrastruture between 2013 and 2022 was finaced using loans. So where are the projects financed by the Eurobonds?

Ruto needs to borrow money locally,convert it into dollars and pay the eurobond at the prevailing market price.

We borrowed the eurobond when the USD KES was I think 86,It's now 150.The debt has doubled.That means the investors are benefiting at the expense of Kenyans.If the shilling heads to 200 in 10 years,that means more pain.

Solution.Borrow locally and pay it.

All developed nations have defaulted at some point even USA.

Who are these so called investors?Where are they located?

Having a dollar loan was the most stupid thing Uhuruto did.

The money was pocketed by Uhuruto.
In their first term,I think they borrowed $40BN USD,It's public data on cbk.
The amount borrowed did not correspond to the value of infrastructure projects.
If our Justice system works,Uhuru N Ruto ought to be in Kamiti serving life sentence with their offshore property confiscated by state.

[Kadudu]

Of course that is the case. The two robbers only fell out because of the sharing of the loot. There is no honour among thieves. I think Ruto conned Uhuru of the loot. Most likely the cash was invested in UAE.

The money was pocketed by Uhuruto.
In their first term,I think they borrowed $40BN USD,It's public data on cbk.
The amount borrowed did not correspond to the value of infrastructure projects.
If our Justice system works,Uhuru N Ruto ought to be in Kamiti serving life sentence with their offshore property confiscated by state.

[audacityofhope]

Ruto needs to borrow money locally, convert it into dollars and pay the eurobond at the prevailing market price.

We borrowed the eurobond when the USD KES was I think 86,It's now 150.The debt has doubled.That means the investors are benefiting at the expense of Kenyans.If the shilling heads to 200 in 10 years,that means more pain.

Solution.Borrow locally and pay it.

All developed nations have defaulted at some point even USA.

Who are these so called investors?Where are they located?

Having a dollar loan was the most stupid thing Uhuruto did.

Are you suggesting there is a tree or unlimited supply within our borders where we can just pluck dollars from? Dollar ni currency ya wenyewe. Are you saying we can also print dollars somewhere in inda? Each time there is a run on the dollar like say importers need foreign exchange to buy imports, there is pressure on the dollar. Already without what you are touting as a solution, Kenya economy is exchanging that dollar with 150 shillings. Shule yako, you never came across the Basics of supply & demand?

[Nowayhaha]

For people who understand Macro economics and financial markets . What Ruto was trying to do would have bankrupted Kenya within a year. Yes Kenya is in a debt trap but the solution is not to make it unattractive place to invest or buy bonds.
Ruto almost made the same mistake of taxation with the initiative of early payment of Eurobond.
Another mistake of over relying of Western nations. Go and cut deals with Russians on fertilizer and oil . Kibaki cut deals with China when it was an unheard thing . Years later we realize how of an economic  genius he was. Get cheap processed oil and fertilizer foe the short term and plan for the long term .
But then again Ruto is not an economist and his interests seems personal and communal . The results of this we will see in the near future. 

[Pragmatic]

Wow no way....!! This is rich coming from you.

WsR has always been known to only serve his interests and only his personal interests. When he is done with Kenya tutakuwa tumekiramba.

For people who understand Macro economics and financial markets . What Ruto was trying to do would have bankrupted Kenya within a year. Yes Kenya is in a debt trap but the solution is not to make it unattractive place to invest or buy bonds.
Ruto almost made the same mistake of taxation with the initiative of early payment of Eurobond.
Another mistake of over relying of Western nations. Go and cut deals with Russians on fertilizer and oil . Kibaki cut deals with China when it was an unheard thing . Years later we realize how of an economic  genius he was. Get cheap processed oil and fertilizer foe the short term and plan for the long term .
But then again Ruto is not an economist and his interests seems personal and communal . The results of this we will see in the near future.

[RV Pundit]

Ruto will fix the small problem of Eurobond because he knows how to look for money. Already he has raised enough dollars in last two months to pay off lots of things

Ile shida imebaki is USD appreciation and gov bond/bills interest/yield plus fuel prices. Maize and food is fixed.

Otherwise economy has recovered.