Kenya has already defaulted, IMF shenanigans are a smokescreen

[DeepInYourMind]

Just trying to postpone the inevitable. The only way out, declare odious debt and prosecute grand corruption.

A very good post describing the situation, selling 408/- of future value for 96/- today:

 

[Eng'iti]

Cc: @pop in @Denis Young @Othello @The.Black.Templar

 

[Othello]

Cc: @pop in @Denis Young @Othello @The.Black.Templar

The man has written as it is. But I haven't read any solution that can save us. And as Ndii kept saying, financial delinquency has no solution.





Whether you reject or accept IMF, it doesn't matter as at this stage. Even if you default, you'll still be begging them to help you out. It's a damn if we do damn if we do not situation. But izo deni lazima mtalipa, whether you like it or not.

 

[Clemens]

Deni lazima ilipwe, but as they say, when you're in a hole, stop digging, we're not plugging the leaks but worsening an already bad situation through wanton looting and careless spending.

 

[upepo]

Deni lazima ilipwe, but as they say, when you're in a hole, stop digging, we're not plugging the leaks but worsening an already bad situation through wanton looting and careless spending.

Watu wakule na roho ya utu. Hii mambo ya kuhongwa alafu unafunga wanaichi na contracts za 30 years sio haki ata kidogo.

 

[wrongturn]

Deni lazima ilipwe, but as they say, when you're in a hole, stop digging, we're not plugging the leaks but worsening an already bad situation through wanton looting and careless spending.

walisema it is impossible to stop digging.

 

[DeepInYourMind]

The man has written as it is. But I haven't read any solution that can save us. And as Ndii kept saying, financial delinquency has no solution.





Whether you reject or accept IMF, it doesn't matter as at this stage. Even if you default, you'll still be begging them to help you out. It's a damn if we do damn if we do not situation. But izo deni lazima mtalipa, whether you like it or not.View attachment 100387View attachment 100388View attachment 100389

Well, he concluded that if he cannot defeat 'financial delinquency', he might as well join it.

People with zero principles, like all politicians

 

[Othello]

Deni lazima ilipwe, but as they say, when you're in a hole, stop digging, we're not plugging the leaks but worsening an already bad situation through wanton looting and careless spending.

After the withdrawal of finance bill, july salaries were paid by debt. Sjui about Aug ama sep, but this is the hole we are in. I don't know how to stop digging such a hole.

 

[Othello]

Well, he concluded that if he cannot defeat 'financial delinquency', he might as well join it.

People with zero principles, like all politicians

Haha...told you we'd have defaulted long ago had it been Mr Gikunda in power. It's not a great achievement, but something to appreciate, coz it's the reason ksh is stable at 129. It is also the reason no major development has been going on. Coz most of development budget is borrowed money. They haven't borrowed heavily for development the way Gikunda used to

 

[Denis Young]

Haha...told you we'd have defaulted long ago had it been Mr Gikunda in power. It's not a great achievement, but something to appreciate, coz it's the reason ksh is stable at 129. It is also the reason no major development has been going on. Coz most of development budget is borrowed money. They haven't borrowed heavily for development the way Gikunda used to

The next two key decisions to look out for:

IMF review coming I think later this month or early next month.
MPC meeting in DEC.

 

[DeepInYourMind]

Haha...told you we'd have defaulted long ago had it been Mr Gikunda in power. It's not a great achievement, but something to appreciate, coz it's the reason ksh is stable at 129. It is also the reason no major development has been going on. Coz most of development budget is borrowed money. They haven't borrowed heavily for development the way Gikunda used to

Kenya has already defaulted. At this point it is a matter of kicking the can down the road until it becomes someone else's problem.

It's like a cycle of getting a loan from Tala to pay off Fuliza, then from Branch to pay of Tala etc

A huge economic recession is underway

 

[wrongturn]

don't know how to stop digging such a hole.

They can if they want to .for starters government expenses like inflated tenders .government has price guidelines but it's ignored. Extreme inflation. Also new cars each year plus unnecessary positions like for the impeached dp he had over 600 employees.
It might not be much but at least they can salvage a few b from such.
Also 2b is lost daily through corruption.
Each parastatal have a huge travel expenses.
Sahi pia kuna nairobi river commission yet we have other water bodies ,overlapping mandates everywhere. .etc...