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Author Topic: Gov is broke  (Read 9904 times)

Offline Georgesoros

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Re: Gov is broke
« Reply #20 on: October 11, 2015, 04:18:39 PM »
Many predicted this but they were told to shut up. parliament lights were out, remember?
It's gonna be a while before the train pick up. That is if they stop spending like drunks.
Otherwise..........

Offline MOON Ki

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Re: Gov is broke
« Reply #21 on: October 11, 2015, 06:47:15 PM »
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THERE IS A PROBLEM

Nairobi County Governor Dr Evans Kidero confirmed that there was a problem which had resulted in the lengthy delay of pay for tens of thousands of workers on the county payrolls.

Really?   I wouldn't have guessed it, so it is good that we now know.   :D
MOON Ki  is  Muli Otieno Otiende Njoroge arap Kiprotich
Your True Friend, Brother,  and  Compatriot.

Offline Kim Jong-Un's Pajama Pants

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Re: Gov is broke
« Reply #22 on: October 11, 2015, 07:21:46 PM »
Quote from: Parkerpen on October 11, 2015, 04:13:01 AM
With an uncle like this, who cant get rich...

http://www.standardmedia.co.ke/article/2000179265/fresh-details-of-massive-looting-at-the-nys
An extra zero on each transaction could be consistent with a innocent computer error.  Has Josy Irungu ever recorded a statement? 
"I freed a thousand slaves.  I could have freed a thousand more if only they knew they were slaves."

Harriet Tubman

Offline MOON Ki

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Re: Gov is broke
« Reply #23 on: October 12, 2015, 04:24:58 AM »
MOON Ki  is  Muli Otieno Otiende Njoroge arap Kiprotich
Your True Friend, Brother,  and  Compatriot.

Offline RV Pundit

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Re: Gov is broke
« Reply #24 on: October 12, 2015, 11:03:06 AM »
Gov is slowly and slowly finding itself in a fix with little wriggle room. The development projects can be delayed but salaries, pensions, debts and now county money cannot.  Monthly gov pays anything upto 20-30B for salaries,5-10b for pensions,30-40B for debts (both external and local) and counties take about 20-30B.So monthly the gov has to have anything from 75b-110B just to meet consolidated fund demands. And that is just about much KRA collect and that leave GOK in a very tight spot... development projects and other admin expenditures have to depend on deficit funding.

Offline gout

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Re: Gov is broke
« Reply #25 on: October 12, 2015, 11:42:17 AM »

Though nation are off with the percentage; still 31% drop in diesel demand (KRA already missed 400m in the 2 months and if the oil brokers get the 800m they are asking from KRA that's 1.2b) shows some fundamentals are not adding up -contractors grounded all over the country - seems only NYS brokers are stepping on the gas

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In the past two months for instance, demand for diesel has dropped by about 45 per cent, with daily consumption falling from seven million litres to about 4.8 million.

Quote

http://www.nation.co.ke/news/State-accused-of-failing-to-pay-oil/-/1056/2909272/-/3ra072z/-/index.html

who knew in a country with half its population surviving on bare minimum could be all about millions and billions...

the high interest rates for short maturing bonds will make it trickier in coming months... are we that risky given or is just another rent seeking opportunity given our debt GDP ratio?? are we that noncompetitive/unproductive?? IMF?? .... Japan with its 230% debt GDP ratio is enjoying very low interest rates

http://icelandicecon.blogspot.co.ke/2012/01/debt-and-interest-rate-comparison.html

our cost of money could be the highest ...  interest rates globally are on a downward trend
http://data.worldbank.org/indicator/FR.INR.RINR
http://www.global-rates.com/interest-rates/central-banks/central-banks.aspx

Government, even in its best state, is but a necessary evil; in its worst state, an intolerable one ~ Thomas Paine

Offline Kim Jong-Un's Pajama Pants

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Re: Gov is broke
« Reply #26 on: October 12, 2015, 11:44:11 AM »
Belts are gonna have to be tightened across the board. Lots of discipline needed.

Someone is going to have to lead from the front, no PR BS, and take responsibility for a change.
"I freed a thousand slaves.  I could have freed a thousand more if only they knew they were slaves."

Harriet Tubman

Offline RV Pundit

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Re: Gov is broke
« Reply #27 on: October 12, 2015, 02:02:38 PM »
Apparently they are borrowing 80B from 3 banks to pay salaries. Things are elephants and nobody want to say so.UhuRuto need to come out and clearly declare we are broke. That is the start of solution. But that would be suicidal. It will remind folks of KANU ERA.Nightmares.
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