But post capping - the interest rates are very low - but somehow the banks are not lending - except the microloans; But why 2015? Jubilee gov claims we got so much rain agricluture has now grown to nearly 35% of GDP (could be sign of serious cooking!!!)
Anyway things are elephant with COVID-19 and IMF will be running the show. Of course the usual conditionalities will apply - tighten your seat belts - raise taxes - reduce expenditure - and the reforms - maybe sell KQ - fix KPLC? - and hopefully we can privatize some of the big parastals. Maybe they can tell Uhuru to forget BBI nonsense.
Anyway things are so thick nobody want finance ministry - Wariah who last smiled 5yrs ago - will probably abandon it and run to Marsabit soon
. This is akin to Moi era when fished Masakhalia from his VW beetle and made him the finance minister
- treasury was so broke - there was nothing to steal.
Wariah is unable to pay counties....salaries were last paid in January
Kenya entered debt cycle around 2015, that's when private sector lending rate started declining https://data.worldbank.org/indicator/FS.AST.PRVT.GD.ZS?locations=KE . The capping of rate only exacerbated the situation and allowed jubilee government to borrow cheaply locally.
What's important now its to know the IMF conditions , ndio to jipange.