I remember in 2014 after Eurobond 1 when Uhuru said the government will not be borrowing in the local market which in effect will reduce interest rates for the common man…well, that never happened. Infact they went on a borrowing spree thereby crowding out the market. Sahii few banks will lend to mama mboga as it was during siku za Kibaki.
Mama mboga will now be forced to borrow at interest rates > 90%!!!..
Another devil is Stawi which is being promoted by CBK but has an APR of > 30%Watu watakamuliwa proper!!.
By 2022 very many Kenyans will be enslaved by debts!!
Sometimes you gotta breakdown such post a little for those of us who are not into numbers. How do % go beyond 100. That is not part of the basic knowledge.
what do you mean government borrowing in the local market is crowding out the private sector yet treasury releases the figures it will borrow each financial year and they stuck to the figure last year and plans to stick to the figure this year.