In a statement quoted on Bloomberg, IMF said that the local unit is 17.5% over-valued, meaning that a 100 shilling note is not worth the paper it is printed on and should buy items that are only worth Sh83.5.
First thread was mine @NeverForget asanta… Haijafika it’s real value inafaa kuwa 115 Kwenda juu… But that small change has resulted to increase in 60billions to our foreign debt…na wanazidi kuchukua madeni…Uhuru is clueless
Wewe ni kama wale washenzi wa writing who think that they’ll get paid more if the shilling falls against the dollar. What you forget though is that everything in Kenya will be expensive negating the imaginary gain you think you had. Debt payments on interest will increase and the only way we can survive is if we switch our trading from dollars to the yuan since we have a greater trade deficit with China than any other country.
Nyang’au za Ruto CBK na ministry of finance zimekuwa zikibehave kama national treasury ni ya mama yao. By the time those asscracks are done, Kenya real estate and finance sectors will be on their knees.
It is wananchi who are clueless, ni sisi pekee tutalipa hizo deni. Life is good for #1 na deputy, hawana shida kuchukua mikopo from which they are cushioned.