Warning from IMF (November 6th)

Business
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[SIZE=6]IMF warns that rate Cap Bill will adversely affect Kenya’s economy
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[SIZE=4]The IMF team was concerned that the recent amendments to the Banking Act that set limits on deposit and lending rates are likely to have an adverse impact on Kenya’s economy. From their experience in other markets, such interest rate controls have been ineffective and gave rise to unintended negative consequences including reduced access to financing for the SMEs and an increase in informal lending at much higher interest rates.

“Interest rate limits could also reverse the remarkable increase in financial inclusion that has benefited a large proportion of Kenya’s population. These adverse effects could lead to lower economic growth and undermine efforts to reduce poverty. In addition, interest rates limits undermine the effectiveness of monetary policy aimed at ensuring price stability and supporting sustainable economic growth.” noted the IMF team.[/SIZE]

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Does this not sound familiar?
Game of Thrones, the bankers at Bravos…hhmmmm
They(bankers) are out to finish us, be it in fiction or reality.

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What do you expect? Bankers are red blood capitalists. Hata iwe WB. Watuache tu. Hizo predictions wakae nazo. Tutajionea kwanza, ikikaa mbaya tutachange course.

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Shida ya Kenya ni gova inaweka rate caps then goes ahead to borrow at similar rates, hapo a banker doesn’t need an education to stop loaning the private sector and concerntrate on treasury bills and bonds

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They might have a point lakini IMF wanakuanga too critical towards African economies.

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Gava inafaa nyimwa loans na IMF. why borrow alafu baadaye shining eyes Waiguru wanaiba alafu wakishikwa wanasema wame resign ati wanataka lighter duties(who does that?) kidogo kidogo with her stolen loot she bribes some unemployed women who carry her around and say Waiguru for Governor. karii kii??

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Does everything have to be a conspiracy with you? Did you go through something that made you so jaded that you believe everyone is out to get you? Google financial repression, it is what our government is doing and there was a lot of research done in the 80s about how it decreases private business growth.

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Research ilikuwa imefanywa before hii case ya Kenya. Countries with financial repression huwa hazifiki mbali. The government will still borrow and make life hard for small businesses. Badala ya kucap rates vote with your feet. Sacco bado zinalipisha 12%p.a na dividends za 8-10%.

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Reducing ama straight line? Mimi am not a member of any sacco because mambo ya guarantors naona shida kupata

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Unlike a bank, you must first be a member of, and save in a sacco prior to getting a loan.

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Take your PMS somewhere bank bitch! Did I force you to read my comment? Do I have to be serious all day everyday? Do I need not to joke?
Again take your PMS somewhere else. I am not here for you.

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Better yet ignore me asshole!

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When it comes to IMF and World Bank reports I think it would be wise to read such with a pinch of salt.

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As at today, the GOK has a debt of Kshs 1.8trillion borrowed from Kenyans in form of Tbills and bonds.

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How much is the foreign debt currently ?

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1.8 trillion.

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I thought the 1.8T is debt borrowed from Kenyans through the T Bills & Bonds ? As per your initial statement . Ama ?

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Yes. And there is another 1.8trillion borrowed externally. So total debt is 3.6trillion

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Well noted . Thanks for the clarification.

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:eek::eek: