Kenya’s Main Opposition Warns Investors Against Next Eurobond

::::: plis msikuje na raira wirro nefa fi fresident crap , im not a cord nor jubilee sycophant but the issues raised by the opposition should be of concern to any Kenyan citizen.::::::

http://www.bloomberg.com/news/articles/2016-10-17/kenya-s-main-opposition-warns-investors-against-next-eurobond

Kenya’s main opposition party cautioned transaction advisers and potential foreign investors against participating in the nation’s next Eurobond offering as it revived allegations that almost $1 billion from a sale of the securities in 2014 is unaccounted for.

“We caution the international markets that the government of the Republic of Kenya needs to account completely for the net proceeds of the Eurobond prior to the issuance of any new international sovereign bond," Raila Odinga, the leader of the Coalition for Reforms and Democracy, said said in a statement e-mailed Sunday.

Raila Odinga said any new Eurobond issue by Kenya could be classified as “odious debt”, saying the government had failed to account fully for the use of funds raised in a previous issue.

In it, the opposition leader cited the government’s “persistent” failure to completely account for the proceeds of the 2014 sale. He said the state has yet to deposit almost $1 billion of the proceeds into the government’s so-called Consolidated Fund maintained at the central bank, as required by law. Odinga also said that the Kenyan auditor-general’s audit report on the government’s financial statements for the 2014-15 financial “does not support the government’s claims that it transferred” the $1 billion into the Consolidated Fund.

Now here’s something that I completely agree with, Kenyas main opposition is a one man show. Cc @Ruffneck @MBOMB @Jakoyo

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He…he…my morning has just been made. Eurobondi is back on the top ten music charts of the week to be sang in the next nearest funeral.

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Perhaps baboon should get a few basics on eurobond markets which he has missed by a mile

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Its like farting in the wind, investors look at the figures not narratives. $30 billion debt vs $20 billion annual budget of which $13 Billion is collected by KRA annually. KRA still collects more revenue each year, actually 15% more every year despite missing its target, thats $1.5 Billion more each year and growing. The economy has been growing by over 5% every year for the last 8 years and currently is 6.5% a year and projected to reach 7% this quarter. Lastly i prefer government borrowing in the international market not domestic anymore so that interest rates can go down even further and us in business can finally get cheaper credit when we need it.

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Are we this dumb or sometimes we exercise to become this extreme?

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See where Eurobond money goes!!! Steal money then give kidogo during harambees to funga watu macho
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Government has no money to finance its operations yet DP Ruto is donating millions everyday. Now they want another Eurobond

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Raila has warned them perfectly…

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safi sana

Mkubwa, with all due respect, I congratulate you for the good work you do to bring us up-to speed on the developments in progress, completed projects and proposed developments. You know, most Kenyans may not be well informed about the dynamics of economics. Thus, this Eurobond thing becomes a song both Jubilee and CORD will sing, either defending or criticizing it depending with which side of the political divide one belongs .

What the layman wants is a breakdown of how the funds were utilized. As simple as that, well documented evidence and every one will be happy. If this information is availed very clearly, then someone having a problem with that hawezi saidika.

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Dont expect that info from @spear

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