I lived in Lebanon from 2016 to 2019; and I can tell you Kenya by 2022 will be the next Lebanon or the second Zimbabwe of Africa; Here is the Reason
1) Lebanon financial collapse was due to corruption and mismanagement as elites borrowed without restrained (https://www.reuters.com/article/uk-...al-meltdown-and-how-it-happened-idUKKBN268223). Kenya is more corrupt than Lebanon and mismanagement is so rampart.
2) Lebanon is a net import of fuel - same as ours we import alot and have little sources of dollars save for tourism and tea. Lebanon had more tourists than Kenya but that never helped them. Point is our exports will not cover the dollar shortages
3) Diaspora remittances- Kenya relies on money from diaspora to get the green buck but with the COVID-19 things have gotten worse. There is a shortage of dollars being remitted. Lebanon had twice their population living outside the country that is more than 10 million people. They remitted dollars - with promises of high interest sai wanalia. Our diaspora is estimated at 3 million people- you can see why diaspora money will not save us.
4) IMF will knock our doors- When countries go to IMF for debt restructuring jua ni kubaya. IMF will give you so many tough conditions that will make the government unpopular. Kenya tuko hapa. People will get sacked, taxes increases, food prices increase and our pensions reduced.
UhuRuto tano tena!
1) Lebanon financial collapse was due to corruption and mismanagement as elites borrowed without restrained (https://www.reuters.com/article/uk-...al-meltdown-and-how-it-happened-idUKKBN268223). Kenya is more corrupt than Lebanon and mismanagement is so rampart.
2) Lebanon is a net import of fuel - same as ours we import alot and have little sources of dollars save for tourism and tea. Lebanon had more tourists than Kenya but that never helped them. Point is our exports will not cover the dollar shortages
3) Diaspora remittances- Kenya relies on money from diaspora to get the green buck but with the COVID-19 things have gotten worse. There is a shortage of dollars being remitted. Lebanon had twice their population living outside the country that is more than 10 million people. They remitted dollars - with promises of high interest sai wanalia. Our diaspora is estimated at 3 million people- you can see why diaspora money will not save us.
4) IMF will knock our doors- When countries go to IMF for debt restructuring jua ni kubaya. IMF will give you so many tough conditions that will make the government unpopular. Kenya tuko hapa. People will get sacked, taxes increases, food prices increase and our pensions reduced.
UhuRuto tano tena!
