he Greek government-debt crisis (also known as the Greek depression)[2][3][4] started in late 2009. It was the first of five sovereign debt crises in the eurozone – later referred to collectively as the European debt crisis. In Greece, triggers included the turmoil of the Great Recession, structural weaknesses in the Greek economy, and a sudden crisis in confidence among lenders. In late 2009, fears developed about Greece’s ability to meet its debt obligations, due to revelations that previous data on government debt levels and deficits had been misreported by the Greek government.[5][6][7] This led to a crisis of confidence, indicated by a widening of bond yield spreads and the cost of risk insurance on credit default swaps compared to the other Eurozone countries – Germany in particular.[8][9] In 2012, Greece’s government had the largest sovereign debt default in history. On June 30, 2015, Greece became the first developed country to fail to make an IMF loan repayment.[10] At that time, Greece’s government had debts of €323bn.[11] .With the kind of borrowing going on in kenya,looting, wage bill and our budget deficit we could be headed to a greek type situation
Huwa una post upuss mingi ivi kwa nini? I think you abandoned your pills or something.
which pills these are carefully researched files or are you hurt by the truth they carry
It’s a figure of speech amigo.
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President Uhuru Kenyatta’s government has borrowed more money in the last two years than what his predecessor did in five years (last term).
Treasury data shows that by March 2015, the Jubilee administration had borrowed Sh874.5 billion between 2013 and 2015, overtaking Kibaki’s regime, which borrowed Sh738 billion in the Grand Coalition’s last term in office.
This debt is expected to soar further this year with the Sh569 billion the Government plans to borrow this year.
This will include Sh340.5 billion from external sources. Another Sh229.7 billion will be borrowed from the domestic market. A Sh118 billion loan from China to fund the Standard Gauge Railway (SGR) is the single largest loan for a particular project this year.
At the current borrowing rate, every Kenyan child born next year will have to shoulder a debt of Sh71,000 from the current 62,000 with an average population of 42 million.
The Treasury projects that the public debt will rise by close to Sh1 trillion over the next two years, to stand at Sh3 trillion in 2016, from the current Sh2.6 trillion.
The Government has defended the growing appetite for debt, which has seen the Jubilee regime more than double year-on-year borrowing to fund ambitious infrastructure projects.
^^^^stockpile dollars coz when shit comes down hutu tu savings twa kila mtu zitakuwa useless