Ehh I am an exporter. I get paid in Euros/dollars depending on the customer. Banks wont collapse. China is our biggest creditor. External loans are about 4 trillion of the total debt.
Banks, Pension Funds, Insurance companies and all sorts of institutions have invested heavily in GoK bonds.
Lazima serikali itafute namna to meet their domestic debt obligations… even if it means delaying civil servants salaries.
That is the stark reality. Debt servicing comes first and everything else afterwards.
Muuii huwa mwema,ata wewe when you see light in the future,you will stop supporting LBGQT movement
Lakini imf wanatufinya, mtu anakuambia usikope nje at the same time you expected to pay your debtors. Default is iminent
Port,.not sgr
That is why Nabii is trying to look for that money domestically by hiking taxes.
Kenyans are being forced to finance the debt repayments by paying taxes through the nose.
Kulipa ushuru ni kujitegemea…
Worst part is that ni hustlers watafinyika. Juu producers will hike prices and employers will simply not increase salaries in tune with the harder times. Mind petrol is above180 and transport is a major cost for importers/exporters/commuters.
I dunnowhat Ndii is advising his council that advises the president. But I’d advise a smaller budget and a default. Bite the bullet once and for all. But William is a thirsty nigger, no way he’ll accept a smaller budget
Clearly you don’t know repercussions of defaulting. Umeskiza wanjigi sana and thought its a good thing. Wanjigi is a vulture who keeps his wealth in dollars and pounds waiting to scavenge on people who will be affected by the effects of default
We wont be the first country to default. Argentina is just fine. Ukraine is even being financed by the countries it defaulted on. Greece is better off than when they defaulted. Wanjigi is right. Na si lazima nimskize I am trained in finance. A bit different from pure economics, but am nota fool in economics either. Naona umeongeza more yenye sikuona. I also keep my money in foreign currency anyway. I’m not dumb. KES loses value constantly. Euro is at 144 at my bank.
Wanjigi anakuanga expert wa which field. Is he an economist?
He has even more economists than the dead aids guy jina inanipotea. He’s no fool. A crook for sure, but no fool.
Wewe unaongea from theory. Mimi I have practically worked with a government that defaulted on loans and treasury bills and it was crazy. Investors flee!..you have people who were millionaires turn to ordinary folks. Hata izo Euros uko nazo kwa bank is not a guarantee you will access them.
WHat do you suggest. Juu def we can’t keep increasing the debt. So next year when debt is higher, we increase taxes more?
Elders yani konyagi alikopa mpaka akakopa kutoka kwa individuals huko majuu? Chinese nao wamelenga hiyo port ya mombasa
Debt ya this year no 1.8t, ya next year I think ni 2.3t. If we won’t have an alternative way of jump starting the economy default is looming. We might postpone it for a year or two through increased taxes but eventually it will materialize
Uhuru’s borrowing was on steroids and increased with speed during the ‘handshake’ era.
I don’t know whether he was thinking about how we were going to service all that debt after the end of his presidency.
We are fixing what the handshake caused
How did the country recover and can you name it nifanye research kidogo.
naeza penda kujua pia mimi juu sioni how we can continue livingbeyond our means. No one likes wanjigi. But you have to be stupid to not see he is using this cause he knowsit is true. You don’t even have to be an economist to know you cant keep increasing your debt if you haveno leverage.