₦airaland Forum

Just40:
The worse is happening in that broke country Kenya

Kenya is a ZOOOO

Just40:
How Kenya ended up in this mess

It spent the last 7 years borrowing to pay salaries just like I told the dumb Kenyans here 5 years ago


It is a no brainer that you'll have to borrow to pay salaries when 110% of revenue went to just debt servicing and wages as far back as 2016

Did we not say this with evidence way back? But the likes of rvpboy and his goons wouldn't accept it. Kenya had been broke for years but they know how to cook the books. I maintain their GDP is far smaller than it is.

68816419:
Wow The Kenyan shilling, which has lost nearly 30% of its value since late 2020, is expected to reach 200 versus the US dollar by the end of the year, making it one of the worst currencies in the world. Ruto needs to get up and do action.

Ruto can not give what he doesn't have. What was his administrative experience before becoming president? He is a social media president and now that elections are over he is at a loss what to do about Kenya's financial situation.

68816419:
God forbid !!!, what pride does one take from making losses for over 10 years ? Wouldn't it be preferable if they were liquidated? I have no idea why this swindle exists. Ghanaians, Nigerians and even Tanzanians in the house please I need answers to thix

Pride. That's the answer to the riddle.

Obaaderemi2:
Did we not say this with evidence way back? But the likes of rvpboy and his goons wouldn't accept it. Kenya had been broke for years but they know how to cook the books. I maintain their GDP is far smaller than it is.

Very true.Kenya borrowed money to pay workers for many years. If we look at their total public debt,then compare with infrastructure projects which they have done,there is nothing to show on the ground.
So they borrowed to pay salaries and the rest of money went to buy food to feed the hungry folks.

Obaaderemi2:
Pride. That's the answer to the riddle.

THEY keep the airline for pride,yes. But also it's also due to corruption.

Many politicians have formed fake companies in different parts of the world like Bahamas,British isles,etc.And they bought planes by credit from manufacturers and then they have leased the planes to Kenya airlines. These are ghost owners of most of the planes which are operated by kenya airline. The number of planes under this corrupt deals is 20.
The airline can't stop to exist since these politicians will loose big money.

Lagos Nigeria.

As i said.....

The civil servant are going on strike.No one can work for free.People have families to feed. No pay no work.

How will this broke nation survive if civil workers stop going to work?

Your guess is good as mine......srilanka


https://www.youtube.com/watch?v=WCnmuFTk8Og&t=2s&pp=2AECkAIB

As Nigeria who have printed 50B dollars the last few years to pay salaries you should be ashamed of yourself.
Kenya debt grew - but so did the infrastructure - uhuru regime double the paved road from 11,000kms to now 25,000kms.
We build greenfield railway - that cost us 7-8B dollars.
We had fastest electrification ever seen on earth - moving from having just 1.5 million household to now 9.5m household in a decade.
The problem we should have stopped in 2018 or around when we hit 50% debt to gdp.
We did slow down but not good enough - then covid and ukraine war - has now precipitate a crisis.
But kenya is fairing much better than many in Africa.
We are middle of the park when it come to dollar/local currency depreciation - nigeria is worst.
We got out of debt distress - Nigeria is getting more and more in a debt mess
We are doing great inflation - single digit - Nigeria and Ghana are over 50 percent.

Kenya has done well in Africa for a long time because we have brilliant people working in gov.

We have 2024 to negotiate - and come 2025 - we will have balanced budget - debt to gdp will drop to 55% - and debt servicing will drop to 33%.

And of course economy even now is still growing at 6% plus every year. GDP that will soon generate 30B dollars for gov alone is not cooked.


I wish I could say the same about Nigeria.

Obaaderemi2:
Did we not say this with evidence way back? But the likes of rvpboy and his goons wouldn't accept it. Kenya had been broke for years but they know how to cook the books. I maintain their GDP is far smaller than it is.

gallivant:
I think Tanzanians need to work harder if they want to overtake Kenya. No shortcuts, ill will, jealousy, witchcraft, defaults etc will get you to promised land.

Who told u to borrow a lot of money? Did TZ forced u to borrow?
It was your own desire which made u to go and take credit.You have scored an own goal.
Stop trying to bring excuses. You were having a small economy but u tried to look big by borrowing and borrowing until you are now exposed,you can't pay salaries. And u are lucky, GDP calculations don't count a country's debt

You already struggling with airline business and SGR that never came - Samia just fired people there. Do not project.

Kazikazi:
THEY keep the airline for pride,yes. But also it's also due to corruption.

Many politicians have formed fake companies in different parts of the world like Bahamas,British isles,etc.And they bought planes by credit from manufacturers and then they have leased the planes to Kenya airlines. These are ghost owners of most of the planes which are operated by kenya airline. The number of planes under this corrupt deals is 20.
The airline can't stop to exist since these politicians will loose big money.

We borrowed and invested so we do not become backward country like TZ where road network is patchy, electricity unaivalable and if available almost always in blackouts - and to provide education - way better than any in Africa.

You dont borrow - you dont invest - you will remain a backwater.

We made a mistake - it was to over-borrow/over-invest. That is easy to correct than under-investment. We just slow down for a year or two - and everything balanced out.

Kazikazi:
Who told u to borrow a lot of money? Did TZ forced u to borrow?
It was your own desire which made u to go and take credit.You have scored an own goal.
Stop trying to bring excuses. You were having a small economy but u tried to look big by borrowing and borrowing until you are now exposed,you can't pay salaries. And u are lucky, GDP calculations don't count a country's debt

Mkenya2019:
As Nigeria who have printed 50B dollars the last few years to pay salaries you should be ashamed of yourself.
Kenya debt grew - but so did the infrastructure - uhuru regime double the paved road from 11,000kms to now 25,000kms.
We build greenfield railway - that cost us 7-8B dollars.
We had fastest electrification ever seen on earth - moving from having just 1.5 million household to now 9.5m household in a decade.
The problem we should have stopped in 2018 or around when we hit 50% debt to gdp.
We did slow down but not good enough - then covid and ukraine war - has now precipitate a crisis.
But kenya is fairing much better than many in Africa.
We are middle of the park when it come to dollar/local currency depreciation - nigeria is worst.
We got out of debt distress - Nigeria is getting more and more in a debt mess
We are doing great inflation - single digit - Nigeria and Ghana are over 50 percent.

Kenya has done well in Africa for a long time because we have brilliant people working in gov.

We have 2024 to negotiate - and come 2025 - we will have balanced budget - debt to gdp will drop to 55% - and debt servicing will drop to 33%.

And of course economy even now is still growing at 6% plus every year. GDP that will soon generate 30B dollars for gov alone is not cooked.


I wish I could say the same about Nigeria.

You can't be doing great inflation when everything in Kenya is extremely expensive than in both Ghana and Nigeria

Mkenya2019:
We borrowed and invested so we do not become backward country like TZ where road network is patchy, electricity unaivalable and if available almost always in blackouts - and to provide education - way better than any in Africa.

You dont borrow - you dont invest - you will remain a backwater.

We made a mistake - it was to over-borrow/over-invest. That is easy to correct than under-investment. We just slow down for a year or two - and everything balanced out.

you have nothing to show for 80 billion dollars.... You guys borrowed and used the money on consumption and that is why you can't pay it back

Obaaderemi2:
Did we not say this with evidence way back? But the likes of rvpboy and his goons wouldn't accept it. Kenya had been broke for years but they know how to cook the books. I maintain their GDP is far smaller than it is.

we said it as far back as the old page

It was too glaring to miss

ProblemChild1:
Kenya is a ZOOOO

😂🤣

A Dark miserable zoo

Mkenya2019:
As Nigeria who have printed 50B dollars the last few years to pay salaries you should be ashamed of yourself.
Kenya debt grew - but so did the infrastructure - uhuru regime double the paved road from 11,000kms to now 25,000kms.
We build greenfield railway - that cost us 7-8B dollars.
We had fastest electrification ever seen on earth - moving from having just 1.5 million household to now 9.5m household in a decade.
The problem we should have stopped in 2018 or around when we hit 50% debt to gdp.
We did slow down but not good enough - then covid and ukraine war - has now precipitate a crisis.
But kenya is fairing much better than many in Africa.
We are middle of the park when it come to dollar/local currency depreciation - nigeria is worst.
We got out of debt distress - Nigeria is getting more and more in a debt mess
We are doing great inflation - single digit - Nigeria and Ghana are over 50 percent.

Kenya has done well in Africa for a long time because we have brilliant people working in gov.

We have 2024 to negotiate - and come 2025 - we will have balanced budget - debt to gdp will drop to 55% - and debt servicing will drop to 33%.

And of course economy even now is still growing at 6% plus every year. GDP that will soon generate 30B dollars for gov alone is not cooked.


I wish I could say the same about Nigeria.

If you can print 50 Billion dollars and your economy survives, do it. There is a reason most non advanced economies can't do this. Not because they don't wanna do it.

GeneralDae:
If you can print 50 Billion dollars and your economy survives, do it. There is a reason most non advanced economies can't do this. Not because they don't wanna do it.

🤣😂🤣

He has no idea .... Maybe he wants to see a Venezuela in Kenya

Even ZImbwabwe is surviving. They are doing better than Nigeria in almost any index. You're not thriving. You have bad deal. Electricity non-existent. Zim has better electricity. Your roads a mess - Zim has it better. You dont have piped water. You dont have sewage system. Your have maybe 20million kids now out of school. Many Zim kids are in school.

And of course you're producing poverty. I dont want to talk about insecurity. That is why I call Nigeria a ZOO - not out of hate - but because nothing works - Zoomalia and ZOOgeria are almost the same

So you can print Naira - nationalize your debt - and create poverty like you've been doing - and create a big Zoo. Continue.

Soon ZOOmalia is going to overtake ZOOgeria.

Sadly you will cause more global problems with millions of un-educated kids, islamic terrorists, drug dealers, prostitutes and scammers.

GeneralDae:
If you can print 50 Billion dollars and your economy survives, do it. There is a reason most non advanced economies can't do this. Not because they don't wanna do it.

If you run a country like this, you'll definitely fo broke

At the mercy of politicians, putting their family members in broke companies

In 2021, Betway alone paid One billion dollars in bet winnings to Ghanaians.
If Govt tax winnings at 10%, they make a kul 100million from one company. There are additional 26 betting companies

Hair cut coming for Kenyan treasury bills and Bonds

That's horrible

10% is too little - make that 30% or even more - sin tax like that is suppose to discourage betting and gambling. Kenya had 2.5B dollars annually being wasted in betting - when high taxes was reduced - this has gone down by half - and they are paying something close to 30-40%.

The overriding objective is to reduce or discourage gambling or betting.

Gambling has posed a serious threat to many Kenyan families. In 2020, Nelson Bwire, co-Founder of the Gaming Awareness Society of Kenya, and his team submitted data to the presidential task force on mental health that highlighted gambling as a major contributor to mental health-related problems. “The effects are devastating — family breakups, addiction, depression, unmanageable debt, increased crime and suicides. But to learn that people are spending such huge amounts on betting in such a short time? It’s absurd,” he said in a report by Finance Uncovered.

Just40:
In 2021, Betway alone paid One billion dollars in bet winnings to Ghanaians.
If Govt tax winnings at 10%, they make a kul 100million from one company. There are additional 26 betting companies

rvp20182:
10% is too little - make that 30% or even more - sin tax like that is suppose to discourage betting and gambling. Kenya had 2.5B dollars annually being wasted in betting - when high taxes was reduced - this has gone down by half - and they are paying something close to 30-40%.

The overriding idea is to reducing gambling.


Gambling has posed a serious threat to many Kenyan families. In 2020, Nelson Bwire, co-Founder of the Gaming Awareness Society of Kenya, and his team submitted data to the presidential task force on mental health that highlighted gambling as a major contributor to mental health-related problems. “The effects are devastating — family breakups, addiction, depression, unmanageable debt, increased crime and suicides. But to learn that people are spending such huge amounts on betting in such a short time? It’s absurd,” he said in a report by Finance Uncovered.

Betting companies will pay 20% on all revenue

Busy scouring the internet for some company in the miserable default corner.

Look like US Treasury Sec Janet Yellen is on your case - dont lose hope. IMF is just around the corner to come BEAT SENSE to your mad gov.
https://www.aljazeera.com/news/2023/4/11/yellen-to-push-for-speedy-action-on-zambia-ghana-debt-relief

United States Treasury Secretary Janet Yellen will push this week for urgent resolution of requests by Zambia and Ghana for restructuring of their sovereign debts, and moves to conclude a debt treatment for Sri Lanka , Treasury said on Monday.

He said Washington was pressing for “concerted action” on Zambia’s debt treatment and the formation of a creditor committee for Ghana in the next month, adding that the two largest economies in the world – the US and China – needed to collaborate on these challenges.

Sri Lanka, Zambia and Ghana have already defaulted on their overseas debt and are working towards debt reworks with creditors. Some 60 percent of low-income countries are in or near debt distress, but the Group of 20 (G20) common framework set up to help low-income countries has failed to deliver quick debt relief.

Shambaugh said Treasury’s immediate priority was resolving outstanding requests from Zambia, Ghana and Ethiopia under the G20 framework, and from Sri Lanka, which is working on a separate debt plan since it is a middle-income country.

Just40:
Hair cut coming for Kenyan treasury bills and Bonds

That's horrible

That is better.

Just40:
Betting companies will pay 20% on all revenue

Kazikazi:
As i said.....

The civil servant are going on strike.No one can work for free.People have families to feed. No pay no work.

How will this broke nation survive if civil workers stop going to work?

Your guess is good as mine......srilanka


https://www.youtube.com/watch?v=WCnmuFTk8Og&t=2s&pp=2AECkAIB

In less than one year Ruto is already failing. Another useless bling bling president.

Ruto has taken very difficult but necessary decisions. Removing subsidies. Refusing to borrow at expensive rate. Increasing revenues. Kenyans have to go through the a little pain to regain it's footing.

Such kind of leadership is beyond your Zoogerian brain where you gov has taken 50B dollars overdraft from its central bank - printing money

President William Ruto: We are not going to borrow money to spend it on recurrent expenditure. We will pay salaries using our own resources. pic.twitter.com/ZMq9ZPprbW

— KTN News (@KTNNewsKE) April 11, 2023

Ruto just now :President William Ruto: We are not going to borrow money to spend it on recurrent expenditure. We will pay salaries using our own resources.

Obaaderemi2:
In less than one year Ruto is already failing. Another useless bling bling president.

Obaaderemi2:
In less than one year Ruto is already failing. Another useless bling bling president.

Your president pisses on himself, currently in a London hospital. 😆 🤣

Next page..

rvp20182:
Busy scouring the internet for some company in the miserable default corner.

Look like US Treasury Sec Janet Yellen is on your case - dont lose hope. IMF is just around the corner to come BEAT SENSE to your mad gov.
https://www.aljazeera.com/news/2023/4/11/yellen-to-push-for-speedy-action-on-zambia-ghana-debt-relief

United States Treasury Secretary Janet Yellen will push this week for urgent resolution of requests by Zambia and Ghana for restructuring of their sovereign debts, and moves to conclude a debt treatment for Sri Lanka , Treasury said on Monday.

He said Washington was pressing for “concerted action” on Zambia’s debt treatment and the formation of a creditor committee for Ghana in the next month, adding that the two largest economies in the world – the US and China – needed to collaborate on these challenges.

Sri Lanka, Zambia and Ghana have already defaulted on their overseas debt and are working towards debt reworks with creditors. Some 60 percent of low-income countries are in or near debt distress, but the Group of 20 (G20) common framework set up to help low-income countries has failed to deliver quick debt relief.

Shambaugh said Treasury’s immediate priority was resolving outstanding requests from Zambia, Ghana and Ethiopia under the G20 framework, and from Sri Lanka, which is working on a separate debt plan since it is a middle-income country.

It is highly likely that Ghana won't take it despite everyone wanting to give Ghana the money.