Syndicated loan from Citigroup Inc., Standard Bank Group Ltd., Standard Chartered Plc and Rand Merchant Bank- US$ 800 million
Syndicated loan from Afrexim- US$ 500 million
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Crap administration.
Borrowing is not bad. We should question what the money will be used for.
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financing uthamaki definitely…
Not sure about that. We have a budget hole that needs to be filled. Borrowing is one of the solutions. Another is increase taxes. Or reduce expenditures.
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130 billion, terms ni gani, interest rate and maturity? Did we need this foreign currency loan to pay another loan?
The problemo is spending borrowed cash like it’s some windfall. Hata msee akiwa broke alipata loan apana spend na 25yrs old scotch, unakunywa KC.
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i call it spending tomorrow’s money today…
I think its because we have used a lot of dollar reserves kushikilia Kenya shilling. Sahii the shilling inachezea 103 and there are signs inaweza panda. Speculators wa mafuta demand more $$$ now that the crude price fell from 56 to 51. So pressure on shilling is there. But I am just speculating.
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borowing and printing money are indirect taxes. All the same, they are taxes.
There is alot of room for maneuver in the expenditures segment, we have so much wastage, misappropriation and outright theft, we could save some hundreds of billions.
Borrowing should be exclusively attached to development expenditure.
The solution to this mess is to deal with jubilee burukenge style. They borrowed the Eurobond but i dont see anything special done with that money. Kibaki built roads without so much loans… @spear hapa regurgitating same or even fewer roads when they have gobbled up billions . The problem with social media is that it has a huge potential for misinformation, jubilee bloggers riding on this.
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this country is being auctioned,
I am surprised it is not another political rhetorical post.…:D:D:D:D infact it is better they are borrowing abroad because it would harm the local loan market if they borrowed internally. The only think likely to harm this move is incase the dollar strengthens it will summarily mean we pay back more money plus interest.
Yes. Dollar strengthening is a big risk. Already Fed increased rate a week ago. Let’s see the impact
Do you mean when we start exporting the oil, the money we get in return will not cushion the shillings?. Thought slowly by slowly by 2020 we would be stable because of the oil as it comes as another product in the market. Asking like a novice. How have Ghana performed so far with its oil?