To understand how deep this forex crisis is, look at this diss
…
[ATTACH=full]499443[/ATTACH]
As a country that imports everything, including essential foodstuff like maize, and exports very little, our currency will always be on thr receiving end.
But when jubilee took power, they initiated big infrastructure projects which were funded by loans. So there was plenty of $$ inflow, hence stabilizing our currency.
But towards the end of 2021, the govt exhausted all borrowing options. And the repayment for some of the loans was due. By march 2022, Debt payments surpassed State running expenses. Remembwr the govt recurrent expenditure is way more than 50% of the money they collect as taxes.
That means it’s like we are channeling all the $$ to loan repayments. At the same time, we had exhausted all our borrowing options to bring more $$, that’s why the IMF came calling.
But is there chance of getting out of the woods?
Hehe…the servicing of the 2014-15 Eurobond ( which the auditor general said waligula yooote) is due next yr. That means it’s either we default on some of these loans, or the ksh continues its free fall to huko 250-300. Time will tell.
What that means is that the dynamic duo were more reckless, more inept, more brainless that their political father, Moi.
They defaulted under a restructuring plan. IMF guaranteed them a $3b loan to default. Had they defaulted with no guarantee, would be a different story. Remember that if IMF is still giving you loans, and especially of significant value, means one is still curable. Can IMF give us a $3b loan today?
Wacha ujinga brathe. Sasa raia pia anakuwa blamed. In what capacity was he eating? Sii mlimpeleka bondo aboard mbukinya in 2017 after voting twice na hata mara ya pili hakuwa amesimama.
The crisis that we are in is because of dollar shortage. Nabii umbwaaa should swallow his pride na awache kulamba mbemberu mboro. Aende Russia huko energy is sold in ruble. Anegotiate na msito Putin apewe discount banae. We are ushering multipolar we should stay in the sinking western hegemony ship.
Mijinga huyo mama… I used to respect her but now i dont…DId she have to say this? Is she getting a token for saying this? Mtu akikuomba msaada sio ati utoke sasa ukamwanike, Saidia na kama hutaki kaa… DOnt broadcast like a parrot on heat. Shenzi yeye
Hii umkbeya hii… Ni kama anayesha
Zii what does that bitch come off by saying anagarantee mkopo? So she was saying this to show how TZ is doing well with reserves yet even in 10 years time they would nver be what Kenya is today even if we stagnated. Moshene tu ya kujisifu na hakuna kitu.
I hope wewe sio hao wajinga wakiombwa wanaenda kutangaza …Oooh ata @Pepo aliniomba pesa juzi. F* that shit. Bitch ass moves
The King is naked.
Someone has to say it, our politicians are all after their stomachs, State House has overspent it’s budget, DP needs hundreds of millions to travel, Uhuru’s government stole money in sacks but we can’t unite in saying enough is enough!
We’re paying IPPs in dollars and kplc is cutting off hospitals where walalahoi seek services.
We’re in shit msee.
Let’s take it constructively, it’s a wake up call.
With this regime TZ watacatch up na sisi within 7 years the rest 3 years zitakua zao wakitpatia Kenya loan. Nime break down your 10yrs oppose na denial but reality inawahit very soon.
Hehe… I hear they want to import fuel on credit. Like if there’s a shortage of dollars today, where will they find those dollars be in 6 months time? Si ni kukosa akili?
[SIZE=7]Dollar Shortage Spurs Kenya to Seek $4.8 Billion Oil-Supply Cover[/SIZE]
David Herbling
Tue, March 7, 2023 at 2:50 PM GMT+3
(Bloomberg) – Kenya has sought a $4.8 billion credit facility from a group of banks as it nationalizes the importing of fuel to enable it to defer payments and conserve its depleting foreign-exchange reserves.
…:D:D Mpaka President leo amecome inbox i hook him up na Suluhu. You guy’s should know people.
Thanks His Excellency Mr. President for the two jugs of busaa:)
