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130 Pages«<127128129130>
Kenya Economy Watch
Monk
#2561 Posted : Wednesday, November 18, 2020 8:01:22 AM
Rank: Member


Joined: 7/1/2009
Posts: 205
wukan wrote:


Following the Zambian playbook, ill-informed rate cap, vanity projects. Premium tears coming up shortly


Wow! We had this case study to learn from, and still went down that path? Then perhaps a default on our Eurobonds is inevitable too, down the line.
maka
#2562 Posted : Wednesday, November 18, 2020 10:15:07 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,381
Location: Nairobi
Monk wrote:
wukan wrote:


Following the Zambian playbook, ill-informed rate cap, vanity projects. Premium tears coming up shortly


Wow! We had this case study to learn from, and still went down that path? Then perhaps a default on our Eurobonds is inevitable too, down the line.


https://www.the-star.co....itter#Echobox=1605673618
possunt quia posse videntur
Angelica _ann
#2563 Posted : Wednesday, November 18, 2020 11:49:54 AM
Rank: Elder


Joined: 12/7/2012
Posts: 11,796
maka wrote:
Monk wrote:


Following the Zambian playbook, ill-informed rate cap, vanity projects. Premium tears coming up shortly


Wow! We had this case study to learn from, and still went down that path? Then perhaps a default on our Eurobonds is inevitable too, down the line.


https://www.the-star.co....tter#Echobox=1605673618[/quote]


These are doomsday naysayers, Kenya is good under the stewardship of Jubilee.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
maka
#2564 Posted : Thursday, November 19, 2020 6:27:17 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,381
Location: Nairobi
Angelica _ann wrote:
maka wrote:
Monk wrote:


Following the Zambian playbook, ill-informed rate cap, vanity projects. Premium tears coming up shortly


Wow! We had this case study to learn from, and still went down that path? Then perhaps a default on our Eurobonds is inevitable too, down the line.


https://www.the-star.co....tter#Echobox=1605673618[/quote]


These are doomsday naysayers, Kenya is good under the stewardship of Jubilee.


Sisi kwisha....


possunt quia posse videntur
wukan
#2565 Posted : Thursday, November 19, 2020 9:07:09 AM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,507
Wacha katambe

Quote:
NAIROBI, Nov 18 (Reuters) - Kenya has changed its mind about a G20 coronavirus debt relief initiative it declined to join earlier this year, and is now planning to defer around $690 million in debt payments, its finance minister told Reuters on Wednesday.

Kenya had said in May that it would not seek suspension of debt payments under the G20’s Debt Service Suspension Initiative (DSSI), aimed at helping poor countries weather the COVID-19 pandemic, as it found the terms too restrictive.

“We have been reluctant in the past because of the attendant unintended consequences in terms of those holding private debt,” Finance Minister Ukur Yatani said.
https://www.reuters.com/article/idUSL1N2I411M
Monk
#2566 Posted : Thursday, November 19, 2020 9:12:49 AM
Rank: Member


Joined: 7/1/2009
Posts: 205
Angelica _ann wrote:
maka wrote:
Monk wrote:


Following the Zambian playbook, ill-informed rate cap, vanity projects. Premium tears coming up shortly


Wow! We had this case study to learn from, and still went down that path? Then perhaps a default on our Eurobonds is inevitable too, down the line.


https://www.the-star.co....tter#Echobox=1605673618[/quote]


These are doomsday naysayers, Kenya is good under the stewardship of Jubilee.


Dry humour...
wukan
#2567 Posted : Friday, November 20, 2020 10:29:33 AM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,507
Quote:
The International Monetary Fund (IMF) and the World Bank have forced Kenya to take a Sh75 billion coronavirus debt relief from wealthy nations as a pre-condition for accessing cheap loans.

Kenya is now planning to defer around $690 million (Sh75 billion) in debt payments as it seeks further funding from the Bretton Woods institutions for budget support to weather the coronavirus economic hardships.

Treasury Cabinet Secretary Ukur Yatani reckons that Kenya made a U-turn in seeking a suspension of debt payments under a G20 initiative due to pressure from the Bretton Woods institutions.

A restrictive clause in the Eurobond terms stopped Kenya from seeking a suspension of debt payments because it could have forced the country to pay the entire Eurobond debt worth $6.1 billion (Sh652.7 billion).

Besides the Eurobond terms, the Treasury was fretful that the relief could hurt the country’s credit rating and be viewed as one that does not meet its international obligations.

“They (World Bank and IMF) are trying to introduce this as one of the key prerequisites to accessing resources from the IMF and World Bank,” Mr Yatani told Reuters.
https://www.businessdail...5bn-debt-relief-3204412


It looks like Washington is serious about buying the Chinese loan book and getting Kenya away from the Chinese orbit. Echoes of the '97 Asian financial crisis
Ericsson
#2568 Posted : Wednesday, December 02, 2020 4:06:04 PM
Rank: Elder


Joined: 12/4/2009
Posts: 9,274
Location: NAIROBI
https://www.standardmedi...l-with-imf-for-more-cash
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#2569 Posted : Friday, December 04, 2020 9:31:23 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,375
Location: Nairobi
wukan wrote:
Quote:
The International Monetary Fund (IMF) and the World Bank have forced Kenya to take a Sh75 billion coronavirus debt relief from wealthy nations as a pre-condition for accessing cheap loans.

Kenya is now planning to defer around $690 million (Sh75 billion) in debt payments as it seeks further funding from the Bretton Woods institutions for budget support to weather the coronavirus economic hardships.

Treasury Cabinet Secretary Ukur Yatani reckons that Kenya made a U-turn in seeking a suspension of debt payments under a G20 initiative due to pressure from the Bretton Woods institutions.

A restrictive clause in the Eurobond terms stopped Kenya from seeking a suspension of debt payments because it could have forced the country to pay the entire Eurobond debt worth $6.1 billion (Sh652.7 billion).

Besides the Eurobond terms, the Treasury was fretful that the relief could hurt the country’s credit rating and be viewed as one that does not meet its international obligations.

“They (World Bank and IMF) are trying to introduce this as one of the key prerequisites to accessing resources from the IMF and World Bank,” Mr Yatani told Reuters.
https://www.businessdail...5bn-debt-relief-3204412


It looks like Washington is serious about buying the Chinese loan book and getting Kenya away from the Chinese orbit. Echoes of the '97 Asian financial crisis
Unlikely. Why would Washington want the Chinese Loan that Kenya is having problems paying? Laughing out loudly
As an example, look at KCB trying to collect on the "Equity" Loan to City Hall. Laughing out loudly
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
wukan
#2570 Posted : Friday, December 04, 2020 9:57:09 PM
Rank: Veteran


Joined: 11/13/2015
Posts: 1,507
VituVingiSana wrote:
wukan wrote:
Quote:
The International Monetary Fund (IMF) and the World Bank have forced Kenya to take a Sh75 billion coronavirus debt relief from wealthy nations as a pre-condition for accessing cheap loans.

Kenya is now planning to defer around $690 million (Sh75 billion) in debt payments as it seeks further funding from the Bretton Woods institutions for budget support to weather the coronavirus economic hardships.

Treasury Cabinet Secretary Ukur Yatani reckons that Kenya made a U-turn in seeking a suspension of debt payments under a G20 initiative due to pressure from the Bretton Woods institutions.

A restrictive clause in the Eurobond terms stopped Kenya from seeking a suspension of debt payments because it could have forced the country to pay the entire Eurobond debt worth $6.1 billion (Sh652.7 billion).

Besides the Eurobond terms, the Treasury was fretful that the relief could hurt the country’s credit rating and be viewed as one that does not meet its international obligations.

“They (World Bank and IMF) are trying to introduce this as one of the key prerequisites to accessing resources from the IMF and World Bank,” Mr Yatani told Reuters.
https://www.businessdail...5bn-debt-relief-3204412


It looks like Washington is serious about buying the Chinese loan book and getting Kenya away from the Chinese orbit. Echoes of the '97 Asian financial crisis
Unlikely. Why would Washington want the Chinese Loan that Kenya is having problems paying? Laughing out loudly
As an example, look at KCB trying to collect on the "Equity" Loan to City Hall. Laughing out loudly



Ericsson
#2571 Posted : Monday, December 14, 2020 9:32:34 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,274
Location: NAIROBI
https://t.co/uNLYi9JBNp?amp=1

China will not finance anymore infrastructure projects in Kenya and Africa....repayments is now the priority
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
Ericsson
#2572 Posted : Monday, December 14, 2020 9:33:46 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,274
Location: NAIROBI
Mudavadi warns country's debt levels almost hitting unimaginable levels.
He says the country is borrowing beyond its capacity
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
rwitre
#2573 Posted : Monday, December 14, 2020 1:57:44 PM
Rank: Member


Joined: 3/8/2018
Posts: 478
Location: Nairobi
Ericsson wrote:
https://t.co/uNLYi9JBNp?amp=1

China will not finance anymore infrastructure projects in Kenya and Africa....repayments is now the priority


The description from Financial Times:

Quote:
“Alongside Mr Xi in successive portraits were the authoritarian leaders of countries with big debts and “junk” credit ratings such as .....Uhuru Kenyatta of Kenya..”





Monk
#2574 Posted : Friday, December 18, 2020 7:13:07 AM
Rank: Member


Joined: 7/1/2009
Posts: 205
Ericsson
#2575 Posted : Friday, December 18, 2020 7:38:51 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,274
Location: NAIROBI
Monk wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/cash-in-kenyans-pockets-jumps-to-19-month-high-3231412

Recovery underway


Not in Jubilee administration
2021 will be harder than 2020.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
xtina
#2576 Posted : Friday, December 18, 2020 8:37:24 AM
Rank: Member


Joined: 6/26/2008
Posts: 340
Ericsson wrote:
Monk wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/cash-in-kenyans-pockets-jumps-to-19-month-high-3231412

Recovery underway


Not in Jubilee administration
2021 will be harder than 2020.


Laughing out loudly Laughing out loudly why so pessimistic?
Ericsson
#2577 Posted : Friday, December 18, 2020 10:49:14 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,274
Location: NAIROBI
xtina wrote:
Ericsson wrote:
Monk wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/cash-in-kenyans-pockets-jumps-to-19-month-high-3231412

Recovery underway


Not in Jubilee administration
2021 will be harder than 2020.


Laughing out loudly Laughing out loudly why so pessimistic?


Jubilee has nothing new to offer apart from economic pain.
Look at the tax measures being introduced from January.
As other countries are looking at stimulus measures due to pain brought by COVID-19.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
eangaga
#2578 Posted : Saturday, December 19, 2020 8:45:47 AM
Rank: New-farer


Joined: 11/15/2016
Posts: 29
If you read the article, there is a very very funny assumption made to make the claim.
Money leaving peoples bank accounts = cash held by the people in homes..Obviously such a claim would be true if kenyans only spent money in kenya. Some take the money and buy cars outside Kenya, some pay loans outside kenya...so when you use that assumption to come up with an article like that, it says more about the writer than it says about the cash in pocket.

Me when cash leaves my account, I typically dont have it under my bed or in a box in the house.smile


Ericsson wrote:
xtina wrote:
Ericsson wrote:
Monk wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/cash-in-kenyans-pockets-jumps-to-19-month-high-3231412

Recovery underway


Not in Jubilee administration
2021 will be harder than 2020.


Laughing out loudly Laughing out loudly why so pessimistic?


Jubilee has nothing new to offer apart from economic pain.
Look at the tax measures being introduced from January.
As other countries are looking at stimulus measures due to pain brought by COVID-19.

shocks
#2579 Posted : Sunday, December 20, 2020 8:48:31 AM
Rank: Member


Joined: 3/15/2009
Posts: 352
eangaga wrote:
If you read the article, there is a very very funny assumption made to make the claim.
Money leaving peoples bank accounts = cash held by the people in homes..Obviously such a claim would be true if kenyans only spent money in kenya. Some take the money and buy cars outside Kenya, some pay loans outside kenya...so when you use that assumption to come up with an article like that, it says more about the writer than it says about the cash in pocket.

Me when cash leaves my account, I typically dont have it under my bed or in a box in the house.smile


Ericsson wrote:
xtina wrote:
Ericsson wrote:
Monk wrote:
https://www.businessdailyafrica.com/bd/markets/capital-markets/cash-in-kenyans-pockets-jumps-to-19-month-high-3231412

Recovery underway


Not in Jubilee administration
2021 will be harder than 2020.


Laughing out loudly Laughing out loudly why so pessimistic?


Jubilee has nothing new to offer apart from economic pain.
Look at the tax measures being introduced from January.
As other countries are looking at stimulus measures due to pain brought by COVID-19.


Problem is they never specified the currency,but if its strictly kes, does our currency leave our borders?
Ericsson
#2580 Posted : Monday, December 21, 2020 10:37:29 AM
Rank: Elder


Joined: 12/4/2009
Posts: 9,274
Location: NAIROBI
https://www.businessdail...s-on-cash-crunch-3234834
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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