Just40:
I guess you debt know what EFF and ECF are .. that is what a bailout is

With all the resources in Kenya, you're in your 24th IMF bailout and still want to borrow more

Ghana debt is 54 billion dollars which is peanuts money

Divide $54billion with your population. Then give us the per capita findings.

Don't argue like an obtuse.

Also, your have an infrastructure deficit, no drought, Gold... Factor in those.

Just40:
Tell that to the tourist complaining about your roadless country because you guys only have 16,000km of paved roads.

Ghana is only spending 30% of it revenue to service debt...2.7 billion dollars.. that's not debt distress. Ghana is facing a liquidity challenge which is politically inflicted.


Kenya is spending 74% of revenue yo service debt.. that is what a real debt distress looking like
No wonder you have defaulted.

SAVE WORDS.

Try to be constructive with your submission. I'm not here to contest for word-wasting trophy.

You can do that with your dogs.

Shma2022:

Debt ceiling still stands at 50%. Don't post propaganda.

.

As of June 2022, external debt constituted about 50% of total public debt, up from 45% as of March 2013. The more expensive commercial debt comprised more than 25% of the external debt as of June 2022.

In real terms, the external debt burden has worsened due to the persistent fall in the value of the Kenya shilling and the economic slump that followed the COVID-19 restrictions.

The worsening overall debt burden has prompted the International Monetary Fund to downgrade the country’s debt risk from moderate to high in 2020 just two years after downgrading it from low to moderate in 2018. The downgrade of a country’s debt risk makes it more expensive for the country to borrow, leaving it with less to spend on other economic programmes.

https://theconversation.com/amp/kenya-has-breached-its-public-debt-ceiling-how-it-got-there-and-what-that-means-190006

GeneralDae:

As of June 2022, external debt constituted about 50% of total public debt, up from 45% as of March 2013. The more expensive commercial debt comprised more than 25% of the external debt as of June 2022.

In real terms, the external debt burden has worsened due to the persistent fall in the value of the Kenya shilling and the economic slump that followed the COVID-19 restrictions.

The worsening overall debt burden has prompted the International Monetary Fund to downgrade the country’s debt risk from moderate to high in 2020 just two years after downgrading it from low to moderate in 2018. The downgrade of a country’s debt risk makes it more expensive for the country to borrow, leaving it with less to spend on other economic programmes.

Again, you're still copy pasting the same yet-to-be-approved nonsense(blog). Our debt ceiling is still 55%.

National government finances are governed by the Public Finance Management (National Government) Regulations of 2015, which set the ceiling at 50% of the present value of GDP. The national Treasury has recently proposed to change the limit to 55%.

You should have copy pasted everything. :

KEY WORDS; PROPOSED!!

The proposed change translates to a debt ceiling of about KSh8.579 trillion for 2022. This figure is calculated from the official forecast for 2021 economic production of KSh12.1 trillion and its projected growth rate of 5.9% during 2022.

Kenya has already broken through the proposed ceiling. The national Treasury estimates the present value of Kenya’s public debt as a proportion of GDP for 2022 at 64.2%. This figure is higher than the proposed ceiling of 55%.

JUSTO ZOMBIE here is your answer:

The high debt usage has driven the cost of annual debt servicing to almost 54% of domestic revenues. This is an increment of 14% compared to 2020 when the ratio was about 40%.

We spend 54% on debt servicing. Ghana spends a whopping 70%. You have no space to breathe. You can't develop any further.

Commercial external debt is now 15% - about 8B dollars out of 40 billion or so external debt.
Kenya debt to gdp is now stuck at t 69 percent.
It's a concern as we should be at 50% - to play safe - though 70% is good for low middle income country.
Another cocern the debt servicing has gone up to 45% - should be ideally 33% - you should not exceed 1/3 of your income paying loans.
Everything else is good in kenya.
Therefore the soveirgn credit ratings will improve.
Those two concerns...debt to gdp & servicing ratio to revenues.

As for Nigeria and Ghana - pretty much all the macro-economic indicators are screaming murder.

GeneralDae:

As of June 2022, external debt constituted about 50% of total public debt, up from 45% as of March 2013. The more expensive commercial debt comprised more than 25% of the external debt as of June 2022.

In real terms, the external debt burden has worsened due to the persistent fall in the value of the Kenya shilling and the economic slump that followed the COVID-19 restrictions.

The worsening overall debt burden has prompted the International Monetary Fund to downgrade the country’s debt risk from moderate to high in 2020 just two years after downgrading it from low to moderate in 2018. The downgrade of a country’s debt risk makes it more expensive for the country to borrow, leaving it with less to spend on other economic programmes.

https://theconversation.com/amp/kenya-has-breached-its-public-debt-ceiling-how-it-got-there-and-what-that-means-190006

rvp20182:
Commercial external debt is now 15% - about 8B dollars out of 40 billion or so external debt.
Kenya debt to gdp is now stuck at t 69 percent.
It's a concern as we should be at 50% - to play safe - though 70% is good for low middle income country.
Another cocern the debt servicing has gone up to 45% - should be ideally 33% - you should not exceed 1/3 of your income paying loans.
Everything else is good in kenya.
Therefore the soveirgn credit ratings will improve.
Those two concerns...debt to gdp & servicing ratio to revenues.

As for Nigeria and Ghana - pretty much all the macro-economic indicators are screaming murder.

Kenya is listed among countries most likely to default on their loans by Moody and other experts. Your loan repayment obligations are coming in faster than Nigeria's as your Eurobonds begin to mature as from next year. Your revenue projections are not being met as imf conditions have rendered Kenyans poorer.

Your forex reserve keeps falling. Ruto inherited a broke government. Your Chinese Masters are breathing down your neck as your debts to them also mature. Don't project your bullcrap on Nigeria. Our debts at $100bn are more manageable than your $80bn debts.

rvp20182:
Gov job is not invest - it's grow the economy - and tax - and our taxes continue to grow.
When it come to investment - Kenya gov has invested everywhere - and has shareholding in 300 SOES
Safaricom 35% stake alone - is more than all Ghana SOES.
That when market is doing great - at one point Safaricom was approaching 20B dollars - that is 8B dollars - enough to pay off all our commercial external debts.
Kenya has I think 200 SOES it own 100% percent
And another 200 SOES it own some shares.
Kenya gov has shares in almost everything...from hotels....cement..to salt...to name...trading...super markets....it almost everywhere

let me laugh at your crazy rants ...

I won't even go far because Safaricom does not have the same value as VRA .. VRA alone is capable of swallowing all Kenyan SOEs..

Because you want to lie so badly, your write up don't add up... Like I said, your government invest in useless stuff and that is why they are haemorrhaging because all of those things are making huge losses draining your govt.

Shma2022:

Divide $54billion with your population. Then give us the per capita findings.

Don't argue like an obtuse.

Also, your have an infrastructure deficit, no drought, Gold... Factor in those.

Every African country have an infrastructure deficit... That of Kenya is even greater than Ghana.
Just look at how many roads your country have to build and you'll have an idea of the disaster you have.

You keep screaming drought yet you have enough water to pour into the ground and enough water just to grow tea... Meanwhile Egypt is more dryer than your country but they meet all their agriculture needs .

Do you even know how much Ghana had to spend from 2000 to 2012 just to fight desertification in order to make it possible for food to be grown in northern Ghana?

Borrowing 80 billion dollars and adding another 10 billion dollars just last month with nothing to show for it only indicate how backward your country is

Shma2022:

SAVE WORDS.

Try to be constructive with your submission. I'm not here to contest for word-wasting trophy.

You can do that with your dogs.

Empty words of someone who have nothing to say again after facts being put to him.

Anyway, how are you guys coping in that poor country of yours with such huge retail prices?

Shma2022:

Again, you're still copy pasting the same yet-to-be-approved nonsense(blog). Our debt ceiling is still 55%.

National government finances are governed by the Public Finance Management (National Government) Regulations of 2015, which set the ceiling at 50% of the present value of GDP. The national Treasury has recently proposed to change the limit to 55%.

You should have copy pasted everything. :

KEY WORDS; PROPOSED!!

The proposed change translates to a debt ceiling of about KSh8.579 trillion for 2022. This figure is calculated from the official forecast for 2021 economic production of KSh12.1 trillion and its projected growth rate of 5.9% during 2022.

Kenya has already broken through the proposed ceiling. The national Treasury estimates the present value of Kenya’s public debt as a proportion of GDP for 2022 at 64.2%. This figure is higher than the proposed ceiling of 55%.

JUSTO ZOMBIE here is your answer:

The high debt usage has driven the cost of annual debt servicing to almost 54% of domestic revenues. This is an increment of 14% compared to 2020 when the ratio was about 40%.

We spend 54% on debt servicing. Ghana spends a whopping 70%. You have no space to breathe. You can't develop any further.

Such thrash of a write up ..

Why do you think when you type plenty, then you may sound sensible?

Ghana debt servicing is 2.7 billion dollars, explain how that is 70% of revenue... I don't blame you I blame the poor education you got

Kenya debt servicing is already gulping out 74% from your revenue 14 billion dollars is going to servicing debt this year.

Kenya debt ceiling has already been increase to 10 trillion in order to allow your next govt to borrow.... Get ready for your debt crisis to get even worse. Won't that be like 95% of GDP?

Just40:
Such thrash of a write up ..

Why do you think when you type plenty, then you may sound sensible?

Ghana debt servicing is 2.7 billion dollars, explain how that is 70% of revenue... I don't blame you I blame the poor education you got

Kenya debt servicing is already gulping out 74% from your revenue 14 billion dollars is going to servicing debt this year.

Kenya debt servicing has already been increase to 10 trillion in order to allow your next govt to borrow.... Get ready for your debt crisis to get even worse. Won't that be like 95% of GDP?

Too sad. Kenya's debt is already 70% of GDP and growing fast.

Buying dollars in the Zoo is like Kenya in 1992

You got to your bank - apply for dollars in Form A - wait forever - unless you're connected fatcat Dangote - if not try the backstreet where dollar to naira is now 900

Nigerians crying over form A - Kenya had infamous Forex Form C

The fact that UK universities are suspending Nigerian students and reporting them to Home Office is a huge concern.A lot of them are genuinely expecting money from Nigeria and this Form A wait is getting out of hand.Why are banks telling them to fill forms and go radio silent�

I'm at the verge of losing my admission
and getting a deportation because of
AccessBank,I initiated my Form A since
23rd August.I have sent them several
emails showing them that my schools
requires the payment or I will be
deported
@myaccessbank

Are we talking about this VRA or another?

The Volta River Authority (VRA) has successfully turned around the company's fortunes after six years of recording losses, as it made profit of GH¢112.76million in 2021 – with management poised to keep up the momentum

You want to compare VRA - with Safaricom that makes 3 billion dollars in revenue - and 1 billion dollar in Gross Profit? Are you completely nuts? Safaricom at it apex was valued at 18B dollars - more than Dangote.

Kenya gov SOES are literally in every sector.

VRA - would electricity sector

KENGEN - kenya gov sold 30% of it to public - own 70%. This largest energy generator with 10 dams, many geothermal, etc
KPLC - is public owned by gov largely - 50% owned by gov. Main supplier or distributor - 9 million customers.
Ketraco - This supply lines - the main electricity bulk supply - 100% gov
REA - Rural electrification - 100%
GDC - Geothermal development company - 100% gov of kenya

That is just electricity space

Name anything in Kenya - kenya gov has a play - including Hilton hotel, Intercon, name it. Kenya gov owns shares and stakes everywhere - cement, salt, sugar, alcohol, name it. Kenya gov has a play.

During 1990s - when World Bank/IMF pressured countries to privatize - Kenya gov privatized about 200 SOES - but never completely sold out - except very few - they would offer shares max of 49% - retaining control.

Kibaki sold a few - mostly floating 30% shareholding - to finance budget deficit.

Uhuru just got drunk with chinese and eurobond - I think he only sold Kenya Wines Agency to South Africa Distell via private arrangment.

Ruto has promised to sell 6 SOES every year to finance the budget deficit.

Just40:
let me laugh at your crazy rants ...

I won't even go far because Safaricom does not have the same value as VRA .. VRA alone is capable of swallowing all Kenyan SOEs..

Because you want to lie so badly, your write up don't add up... Like I said, your government invest in useless stuff and that is why they are haemorrhaging because all of those things are making huge losses draining your govt.

It's not growing as fast as GDP - it been stuck at 60-69 - and as we grow GDP - and reduce borrowing - we will be fine.
70% is about borderline for low middle income country.
Kenya macro-economics are SOLID - little problems that are being corrected.

obaaderemi:
Too sad. Kenya's debt is already 70% of GDP and growing fast.

Opps - we never sold Kenya Wines Agency to Distell South Africa - look like KWAL actually eventually bought South Africa Distell distributorship in kenya. That mean kenya gov is making lots of alcohol and wines.

Distell South Africa owns 26% - and KWAL makes their own wines & spirits - and sell some South African brands

There is almost no sector kenya gov is not involved.

The government owns 72.65 per cent shareholding in Kwal through the Industrial and Commercial Development Corporation (ICDC)


The sale of Kenya Wine Agencies to a South African firm has been put on hold pending the completion of the ongoing parastatal reforms.

A letter to the Privatisation Commission CEO Solomon Kitungu from the State Corporations Advisory Committee - which is overseeing the reforms, orders immediate cancellation of the talks on sale of the company.

“This is, therefore, to bring to your attention the need to put on hold the intended transfer of ICDC shares in Kenya Wine Agencies Limited (Kwal) Holdings EA Ltd to South Africa’s Distell Group Ltd,” reads the letter signed by Ms Jane Mugambi, the secretary of Parastatal Reforms Implementation Committee.

rvp2018:
After all that explain to me why Nigeria cement industry is still protected yet Dangote is internationally competitive .The answer will explain why you have I bet world highest cement prizes.Many countries in Africa started from high of 15 dollars a decade ago to now mostly about 5-8 dollars a 50 kg bag...still some way to Asia 3-4 dollars.That should be conversation...not history of last few months of market malfunctioning..when all your lifetime everything is messed up...not cement..not electricity..not sewage..not water.. nothing works you have accepted it's normal

Explain to me why cement is sold for $650- $700 in Kenya. That's above the price in Nigeria. Why are you importing clinkers from Egypt? Any dumbo can produce clinkers in their country.

rvp20182:
Are we talking about this VRA or another?

The Volta River Authority (VRA) has successfully turned around the company's fortunes after six years of recording losses, as it made profit of GH¢112.76million in 2021 – with management poised to keep up the momentum

You want to compare VRA - with Safaricom that makes 3 billion dollars in revenue - and 1 billion dollar in Gross Profit? Are you completely nuts? Safaricom at it apex was valued at 18B dollars - more than Dangote.

Kenya gov SOES are literally in every sector.

VRA - would electricity sector

KENGEN - kenya gov sold 30% of it to public - own 70%. This largest energy generator with 10 dams, many geothermal, etc
KPLC - is public owned by gov largely - 50% owned by gov. Main supplier or distributor - 9 million customers.
Ketraco - This supply lines - the main electricity bulk supply - 100% gov
REA - Rural electrification - 100%
GDC - Geothermal development company - 100% gov of kenya

That is just electricity space

Name anything in Kenya - kenya gov has a play - including Hilton hotel, Intercon, name it. Kenya gov owns shares and stakes everywhere - cement, salt, sugar, alcohol, name it. Kenya gov has a play.

During 1990s - when World Bank/IMF pressured countries to privatize - Kenya gov privatized about 200 SOES - but never completely sold out - except very few - they would offer shares max of 49% - retaining control.

Kibaki sold a few - mostly floating 30% shareholding - to finance budget deficit.

Uhuru just got drunk with chinese and eurobond - I think he only sold Kenya Wines Agency to South Africa Distell via private arrangment.

Ruto has promised to sell 6 SOES every year to finance the budget deficit.

Good luck ... That I what broke countries do... Ghana was here in 1980 ...
Very soon you'll have to sell Kenya water company
And you'll realize that they are worth nothing.

Anyway, VRA asset are valued around 35 billion dollars

1) Inflation right now is above our target/our liking - 9% - should be 6-7 percent or 5 percent like it was - we are midst of global crisis.

Kshs 650-700 is bit high because right now petrol/oil is expensive - affect cost of electricity (thermal in kenya has 15% of power) and transport
Normally it should be 550-600.
It will come down when Oil price reduces.

2) Egypt is part of COMESA. Their goods enter kenya duty free. We are not afraid of Egypt. We are 2nd in COMESA. We sign Africa free trade because our companies must compete with Egypt and South Africa. Nigeria is closed DANGOTE LAND.
If you were to join COMESA and allow Egyptian goods to come - they will overrun you. Egypt sell cement for 2-3 dollars.

Right now most cement companies have their own clinker.

obaaderemi:
Explain to me why cement is sold for $650- $700 in Kenya. That's above the price in Nigeria. Why are you importing clinkers from Egypt? Any dumbo can produce clinkers in their country.

Shma2022:

From your @ss or what? Do you know the meaning of BAILOUT?

Ghana with all the resources and infrastructure deficit is wallowing in debts( with 17 straightforward bailouts) how does this sound to you?

Kenya needs IMF more than any west African country. Ghana is not drought-infested like Kenya, why are you borrowing too much?

There he goes again with his 1845 mentality. Even desert countries are transforming their deserts into farm lands. They are making use of the sea and any water body available.

What is k-nyansh also doing with this water body in the heart of your so called arid land?

Kenya gov need to get out - of many of these sectors. That I agree. And that is why Kenya gov is very rich. They just need to sell. Safaricom alone can clear all commercial loans.

What are VRA liabilities.

Company is valued when you Assets-Liabilities.

Just40:
Good luck ... That I what broke countries do... Ghana was here in 1980 ...
Very soon you'll have to sell Kenya water company
And you'll realize that they are worth nothing.

Anyway, VRA asset are valued around 35 billion dollars

Most of kenya lakes along the rift valley including Lake Turkana there has salty or brackish water. Not drinkable by humans. Without expensive desalination. This is not Lake Volta. That is world largest alkaline lake. Some like Magadi is full of Soda Ash. The rest too salty except for Flamingos.

Salty water dont just exist in the sea - they exist in some of these inland lakes without outlets.

vankelvin:
[/b]
There he goes again with his 1845 mentality. Even desert countries are transforming their deserts into farm lands. They are making use of the sea and any water body available.

What is k-nyansh also doing with this water body in the heart of your so called arid land?

Just40:
Every African country have an infrastructure deficit... That of Kenya is even greater than Ghana.
Just look at how many roads your country have to build and you'll have an idea of the disaster you have.

You keep screaming drought yet you have enough water to pour into the ground and enough water just to grow tea... Meanwhile Egypt is more dryer than your country but they meet all their agriculture needs .

Do you even know how much Ghana had to spend from 2000 to 2012 just to fight desertification in order to make it possible for food to be grown in northern Ghana?

Borrowing 80 billion dollars and adding another 10 billion dollars just last month with nothing to show for it only indicate how backward your country is

On the emboldened

K-nyansh people are just dumb
They think nothing can be done about their so called arid lands

rvp20182:
Most of kenya lakes along the rift valley including Lake Turkana there has salty or brackish water. Not drinkable by humans. Without expensive desalination. This is not Lake Volta. That is world largest alkaline lake. Some like Magadi is full of Soda Ash. The rest too salty except for Flamingos.

No one has asked you to drink it
It can be desalinated and used for irrigation farming

No one asked you not to think through issues or go to proper school
You could have gone for a single track education and concentrated - cost-benefit analysis 101
Desalination is very expensive - only done by Oil barons like Saudis.
Turkana sits on a huge aquifer - but economics of desalination dont make sense.

vankelvin:

No one has asked you to drink it
It can be desalinated and used for irrigation farming

rvp20182:
Most of kenya lakes along the rift valley including Lake Turkana there has salty or brackish water. Not drinkable by humans. Without expensive desalination. This is not Lake Volta. That is world largest alkaline lake. Some like Magadi is full of Soda Ash. The rest too salty except for Flamingos.

Salty water dont just exist in the sea - they exist in some of these inland lakes without outlets.

Excuses as usual
Have you ever heard of Desalination before?
Libya, Morocco, Egypt, Ghana etc have desalination plants that treats Sea water and the water is drinkable

No I live in a cave. Desalination for small projects are all over. To scale is very expensive.
Go back to proper school

vankelvin:

Excuses as usual
Have you ever heard of Desalination before?
Libya, Morocco, Egypt, Ghana etc have desalination plants that treats Sea water and the water is drinkable

rvp20182:
No one asked you not to think through issues or go to proper school
You could have gone for a single track education and concentrated - cost-benefit analysis 101
Desalination is very expensive - only done by Oil barons like Saudis.
Turkana sits on a huge aquifer - but economics of desalination dont make sense.

If this is how being educated looks like then I would rather not be educated.

Water desalination is done by African countries as well, it's not only Oil baron countries that do it mumu

There are small desalination plant all over - for drinking water - including in kenya.
But for irrigation - now that is crazy

Small plant like this in Vipingo city of kenya....for drinking water.

https://www.youtube.com/watch?v=jQbZ9HOMfpw

vankelvin:
[/b]
If this is how being educated looks like then I would rather not be educated.

Water desalination is done by African countries as well, it's not only Oil baron countries that do it mumu

rvp20182:
No I live in a cave. Desalination for small projects are all over. To scale is very expensive.
Go back to proper school

Simply put your country is too poor to embark on such project. Those foreigners who keep investing in Nairobi and Mombasa are not interested in your Turkana regions else
they would have done it simple

Why dont you come and do it. Kenya is free land. Come, desalinate it, farm on it and make money. We will give you citizenship pronto. And maybe Turkana will make your their first King. The kunte Kante from Ashanti.

vankelvin:

[/b]
Simply put your country is too poor to embark on such project. Those foreigners who keep investing in Nairobi and Mombasa are not interested in your Turkana regions else
they would have done it simple

rvp20182:
Why dont you come and do it. Kenya is free land. Come, desalinate it, farm on it and make money. We will give you citizenship pronto. And maybe Turkana will make your their first King. The kunte Kante from Ashanti.

Tell your fellow k-nyansh man to stop giving excuses for your ineptitude leaders

Enough of the arid land stories

Drought is a natural disaster like Earthquake or Flooding.
You can build a dam - but it dries out if rains fails for 4yrs.
The water simply evaporate out. Those in lakes become salty.
You need to understand the complexity of these things.
Kenya is not looking for excuses.
We have grown our economy despite all that.
We have africa largest non-mineral economy - and large agricluture - despite all that.

Focus this misplaced anger on Ghana....blessed with gold...only country named GOLD COAST.
You have mighty river Volta dividing your country.
You have oil, aluminumum, name it.
You entire land is arable.

Why are your POOR? WHY?

vankelvin:

Tell your fellow k-nyansh man to stop giving excuses for the ineptudness of your leaders

Enough of the arid land stories