₦airaland Forum

Just40:
It is highly likely that Ghana won't take it despite everyone wanting to give Ghana the money.

Nobody cares about your little country. Dig for more oil and gold like nature intended and pay your debts.

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.

What evidence do you have that we printed$50bn?
We are not a jungle like Kenya which has been broke for years but just patching things up. Now the cooking is bursting at the seams for all to see and you think your problem is Nigeria, a country doing better than you financially.

Go and pay your civil servants and stop ranting.

Just40:
😂🤣

A Dark miserable zoo

Makachi

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Saddamochieng00:
That right there is the problem with all you local geniuses. You know what a county govt is right?

You are an idiot , county in this sense will passed as a state in Nigeria or a region in Ghana . That is a fair explanation

Why dont you search - Zoogeria - advising Kenya is 8th wonder of the world. You've been literally been printing money. It worse than Uhuru did - which was to borrow money.

1) 2021 -DUE to persistent fiscal slippage, the Central Bank of Nigeria (CBN) overdraft extended to the Nigerian Government increased to N13.11 trillion at the end of the fiscal year 2020, Cordros Capital said in a research report.

2) 2023 - Buhari has printed 30 times what Jonathan did . When you asked for an overdraft from your central banker - you're printing MONEY - because central bank doesnt have money but can create money for you.

A $50 Billion Overdraft Is Set to Become Nigeria’s Debt
Such borrowing has exploded 30-fold under President Buhari
Acceptance would add about 50% to official public debt

https://www.bloomberg.com/news/articles/2023-01-17/a-50-billion-overdraft-is-set-to-become-nigeria-s-debt

Obaaderemi2:
What evidence do you have that we printed$50bn?
We are not a jungle like Kenya which has been broke for years but just patching things up. Now the cooking is bursting at the seams for all to see and you think your problem is Nigeria, a country doing better than you financially.

Go and pay your civil servants and stop ranting.

African countries need to start collecting monies to help finance kenyan Government...

The country is broke... It is effectively Bankrupt and should be filling for bankruptcy by now.

KRA has only been able to collect 1.55 Trillion kshs

Debt service = 1.4 trillion kshs
Recurrent expenditure = 1.4 Trillion kshs


There's no money for capital expenditure and things are only going to get worse for Kenya as the debt service cost increase by 21% every year... Far more than revenue can grow and revenue collection has been decreasing for the last 9 month in value terms.

When the kshs depreciates, everything becomes even worse

Stop projecting bonobos. Kenya didn't default on her loans.

Still praying for more company in misery corner. You have Srilanka, Zambia, Ethiopia, Chad and Mali. Soon maybe Pakistan, Egypt and Nigeria will join you.

Kenya is on course to collect 2.1 trillion on taxes alone plus another 0.2-0.3 trillion from non-ordinary revenues bring total revenues to 2.4-2.5. Kenya will also borrow about 0.7 trillion taking total money available to 3.3 trillion.

The expenditure - debt services is 1.3-1.4.

That leaves at least 2 trillion to pay salaries, recurrent expenditure and development.

Kenya will not join Ghana in insolvency.

Just40:
African countries need to start collecting monies to help finance kenyan Government...

The country is broke... It is effectively Bankrupt and should be filling for bankruptcy by now.

KRA has only been able to collect 1.55 Trillion kshs

Debt service = 1.4 trillion kshs
Recurrent expenditure = 1.4 Trillion kshs


There's no money for capital expenditure and things are only going to get worse for Kenya as the debt service cost increase by 21% every year... Far more than revenue can grow and revenue collection has been decreasing for the last 9 month.

When the kshs depreciates, everything becomes even worse

The bold is really scary. Only option is to borrow for capital projects which will further jack up their already elevated debt to GDP ratio.

In all honesty every major African economy is going through it right now except maybe Morocco.

If Tinubu can resolve the subsidy removal and its fallout that should buy Nigeria some time in the short term.

It looks like Ghana is slowly but painfully coming out of its economic turmoil.

Mkenya2019:
Still praying for more company in misery corner. You have Srilanka, Zambia, Ethiopia, Chad and Mali. Soon maybe Pakistan, Egypt and Nigeria will join you.

Kenya is on course to collect 2.1 trillion on taxes alone plus another 0.2-0.3 trillion from non-ordinary revenues bring total revenues to 2.4-2.5. Kenya will also borrow about 0.7 trillion taking total money available to 3.3 trillion.

The expenditure - debt services is 1.3-1.4.

That leaves at least 2 trillion to pay salaries, recurrent expenditure and development.

Kenya will not join Ghana in insolvency.

Keep dreaming

1.5 trillion is a far cry away ... KRA will not be able to collect even 2 trillion kshs before the year ends in June.

But this is not even the main problem.... Because debt has taken all the revenue collected, Ruto was forced to borrow 800 billion kshs to finance portions of the recurrent expenditure. Depreciation has added additional 500 billion kshs to total debt.


That is almost 10% of Kenya total debt borrowed from the Treasury bill market despite under subscriptions, in just 9 months.

From the looks of things, The Kenyan government is even hiding part of the debt that Kenya owes.

By my estimation, Kenya is 12 trillion kshs down in debt.

Also the Kenya GDP is at 106 billion dollars

chrisooblog:
The bold is really scary. Only option is to borrow for capital projects which will further jack up their already elevated debt to GDP ratio.

In all honesty every major African economy is going through it right now except maybe Morocco.

If Tinubu can resolve the subsidy removal and its fallout that should buy Nigeria some time in the short term.

It looks like Ghana is slowly but painfully coming out of its economic turmoil.

Yes... The Ghanaian govt seem to have used the repo market and reverse repo...

It has cool things down

Concentrate on Ghana - maybe you can help her avoid IMF shellshacking

Just40:
Keep dreaming

1.5 trillion is a far cry away ... KRA will not be able to collect even 2 trillion kshs before the year ends in June.

But this is not even the main problem.... Because debt has taken all the revenue collected, Ruto was forced to borrow 800 billion kshs to finance portions of the recurrent expenditure. Depreciation has added additional 500 billion kshs to total debt.


That is almost 10% of Kenya total debt borrowed from the Treasury bill market despite under subscriptions, in just 9 months.

From the looks of things, The Kenyan government is even hiding part of the debt that Kenya owes.

By my estimation, Kenya is 12 trillion kshs down in debt.

What reform has you execute the last 12yrs to fix Ghana systemic and structural problems. ZERO. You have defaulted. Force local creditors to take huge losses. Where is the pain there?

IMF is bringing PAIN.

chrisooblog:
It looks like Ghana is slowly but painfully coming out of its economic turmoil.

Mkenya2019:
Concentrate on Ghana - maybe you can help her avoid IMF shellshacking

He's saying one thing and doing another 🤣😂🤣

Why Did he borrowed 800 billion kshs from the Treasury bill market to finance recurrent expenditure, paying MP and buying cars as well appointing a huge Govt? Meanwhile workers are going without pay for the rest of the year.

He's only digging Kenya deeper into the mess it is currently in.

Why is his govt planning to do a hair cut on bonds and treasury bills ?

No slowpoke.
Uhuru budget which Ruto is overseeing had projected to borrow 900B.
Ruto revised that to 700B or about in supplementary budget.
However debt market has been tough..kenya locked out of international debt market.
Ruto has not even reach 50% of the borrowing - meaning hardly 400B has been borrowed.
Ruto has refused to pay expensive interest rates - and reject lots of money weekly that exceed what gov see as acceptable interest rate
That is why gov is struggling because we want to be responsible and prudent - not push the can forward.
We are likely to end the year having borrowed only 600B.
Bringing down deficit to less than 4%.

Next year we have one more problematic year.

Then we are DONEEEEEEEEEEEEE - we CRUISE AGAIN.

Ghana by then would have just nailed IMF program - and shellsacking will begin until 2030s something.

Just40:
He's saying one thing and doing another 🤣😂🤣

Why Did he borrowed 800 billion kshs from the Treasury bill market to finance recurrent expenditure, paying MP and buying cars as well appointing a huge Govt? Meanwhile workers are going without pay for the rest of the year.

He's only digging Kenya deeper into the mess it is currently in.

Why is his govt planning to do a hair cut on bonds and treasury bills ?

Mkenya2019:
No slowpoke.
Uhuru budget which Ruto is overseeing had projected to borrow 900B.
Ruto revised that to 700B or about in supplementary budget.
However debt market has been tough..kenya locked out of international debt market.
Ruto has not even reach 50% of the borrowing - meaning hardly 400B has been borrowed.
Ruto has refused to pay expensive interest rates - and reject lots of money
That is why gov is struggling because we want to be responsible and prudent - not push the can forward.
We are likely to end the year having borrowed only 600B.
Bringing down deficit to less than 4%.

Next year we have one more problematic year.

Then we are DONEEEEEEEEEEEEE - we CRUISE AGAIN.

Ghana by then would have just nailed IMF program - and shellsacking will begin until 2030s something.

It is always prudent to be factual

Ruto has borrowed 800 billion kshs to finance recurrent expenditure.. how do you think he managed to pay MPs and soldiers, finance the running of the government Machinery and pay the police for the last 9 months ?


The worse is that, at the moment, he can't borrow anymore from the domestic market.

This is his current dilemma

He's either going to crash the Kenyan economy by not financing anything to keep it running or he will crash the Kenyan economy by defaulting on even more debt like he has on 8 debts.

Just40:
Keep dreaming

1.5 trillion is a far cry away ... KRA will not be able to collect even 2 trillion kshs before the year ends in June.

But this is not even the main problem.... Because debt has taken all the revenue collected, Ruto was forced to borrow 800 billion kshs to finance portions of the recurrent expenditure. Depreciation has added additional 500 billion kshs to total debt.


That is almost 10% of Kenya total debt borrowed from the Treasury bill market despite under subscriptions, in just 9 months.

From the looks of things, The Kenyan government is even hiding part of the debt that Kenya owes.

By my estimation, Kenya is 12 trillion kshs down in debt.

Also the Kenya GDP is at 106 billion dollars

Are you a trained economist? Your opinion is just that, an opinion from a short little punk.

Kenya is not a Zoo like Ghana.
Such data are available easily.
Kenya financial year start from June to June ( I think your two Zoos do Jan-Dec)
You can easily find how much has been borrowed external and internally.
Externally it only about 400M dollars that has come from IMF - out of planned almost 2B dollars ( there is syndicated loan soon to bridge that gap)
Internally - it easy to know what gov has borrowed from Tbills and Treasury bonds

Kenya gov is way behind schedule in borrowing hence the liquidity crunch.

We are not Ghana BACKWATER bankrupt Zoo.

Just40:
It is always prudent to be factual

Ruto has borrowed 800 billion kshs to finance recurrent expenditure.. how do you think he managed to pay MPs and soldiers, finance the running of the government Machinery and pay the police for the last 9 months ?


The worse is that, at the moment, he can't borrow anymore from the domestic market.

This is his current dilemma

He's either going to crash the Kenyan economy by not financing anything to keep it running or he will crash the Kenyan economy by defaulting on even more debt like he has on 8 debts.

I'm not Ghanaian rafiki insecure much?

Mkenya2019:
What reform has you execute the last 12yrs to fix Ghana systemic and structural problems. ZERO. You have defaulted. Force local creditors to take huge losses. Where is the pain there?

IMF is bringing PAIN.

rvp20182:
Kenya is not a Zoo like Ghana.
Such data are available easily.
Kenya financial year start from June to June ( I think your two Zoos do Jan-Dec)
You can easily find how much has been borrowed external and internally.
Externally it only about 400M dollars that has come from IMF - out of planned almost 2B dollars ( there is syndicated loan soon to bridge that gap)
Internally - it easy to know what gov has borrowed from Tbills and Treasury bonds

Kenya gov is way behind schedule in borrowing hence the liquidity crunch.

We are not Ghana BACKWATER bankrupt Zoo.

The IMF 400 million was just to help Kenya buy fuel and food...

Screaming over your voice will do you no good.

Kenya needs 1.4 trillion kshs to finance recurrent expenditure and KRA could not collect enough revenue to finance debt payment and recurrent expenditure.

To keep the Kenyan government functioning Ruto decided to borrow 800 billion through treasury bills to finance essential part of the recurrent expenditure despite being told not to borrow and cut down on expenditure by 300 billion.

Now he's has made everything even worse. Uhuru was doing 60billion per month borrowing but Ruto is currently doing 100 billion every month.


Kenya is a bankrupt ZOO

vaxx:
You are an idiot , county in this sense will passed as a state in Nigeria or a region in Ghana . That is a fair explanation

Why then don't you worry about your own country that has already walked past the gate of no return.

You use a lot of words to say nothing - thanks to the pathetic ZOO education you receive.
Kenya last year collection 2.1 in ord.taxes - and 200b plus in 2.2.
Kenya has 3 more months to go - and are 8% ahead of last year collection - we will definitely hit 2.4/2.5 trillion.
Kenya reduced the planned borrowing - from 6.2% to 5.7% - in supplementary budget.
Ruto also increase the planned revenues collection - upward

As of now April - gov is way behind it's borrowing target - both external and domestic.

https://www.reuters.com/world/africa/kenya-tweaks-202223-spending-deficit-estimates-supplementary-budget-2023-02-07/

Just40:
The IMF 400 million was just to help Kenya buy fuel and food...

Screaming over your voice will do you no good.

Kenya needs 1.4 trillion kshs to finance recurrent expenditure and KRA could not collect enough revenue to finance debt payment and recurrent expenditure.

To keep the Kenyan government functioning Ruto decided to borrow 800 billion through treasury bills to finance essential part of the recurrent expenditure despite being told not to borrow and cut down on expenditure by 300 billion.

Now he's has made everything even worse. Uhuru was doing 60billion per month borrowing but Ruto is currently doing 100 billion every month.


Kenya is a bankrupt ZOO

Is there a difference btw the big and small Zoo. Same obtuseness. Same intransigence. Same banality.

chrisooblog:
I'm not Ghanaian rafiki insecure much?

https://www.capitalfm.co.ke/business/2023/03/govt-to-borrow-sh700bn-as-it-seeks-to-finance-sh3-6tn-budget/
The government was to borrow Sh 700 billion out of which Sh 198.6 billion will be raised from external sources and Sh521.5 billion from the domestic market.

So far external sources have dried up - apart from IMF loan (400M dollars)
I think there is syndicated loan - gov wanted 600M loans - but has gotten 200m dollars.

Domestic debt - total of 521B - is also behind schedule - as gov reject high interest offers.

rvp20182:
You use a lot of words to say nothing - thanks to the pathetic ZOO education you receive.
Kenya last year collection 2.1 in ord.taxes - and 200b plus in 2.2.
Kenya has 3 more months to go - and are 8% ahead of last year collection - we will definitely hit 2.4/2.5 trillion.
Kenya reduced the planned borrowing - from 6.2% to 5.7% - in supplementary budget.
Ruto also increase the planned revenues collection - upward

As of now April - gov is way behind it's borrowing target - both external and domestic.

https://www.reuters.com/world/africa/kenya-tweaks-202223-spending-deficit-estimates-supplementary-budget-2023-02-07/

8% of last year means not especially when the Kshs is now trading at 140kshs ... Debt repayment will grow by 21% which is more than 2 and a half times revenue.
Meaning a disaster.

KRA has only been able to collect 1.5 trillion, let say KRA managed to collect another 500 billion for the remaining 3 months, which will be a struggle. That will sum up at 2 trillion KSHS.

2 trillion divided by 140kshs will give you 14.2 billion dollars which is even bellow the debt servicing amount which has gone up by 21% from 14 billion dollars.

Hmmm

David Ndii: Government is extremely wasteful, there is not a single day that I am not exasperated by not just how wasteful it is but by how deliberate it is and how unbothered people are #MondayReport @WaihigaMwaura pic.twitter.com/lfkReXygQC

— Citizen TV Kenya (@citizentvkenya) April 10, 2023

The last 3 months of the financial year normal see higher collection as taxpayer races to close the year.

The planned tax revenues is just 5% behind schedule - so with above average collection in April, May and June - we will hit the target of our revenues.

As of Feb - we were at 37% of borrowing target - this where gov is struggling because it rejecting expensive money.

Which prudent thing to do - because Ruto want to solve the debt crisis as soon as possible - not have it linger like Ghana until 2037.

Just40:
Obtuse nonsense ----------

Rafiki I know Ruto has funded your propaganda office since last month hence the outburst and frustration. Hang in there bro you'll pull through

rvp20182:
Is there a difference btw the big and small Zoo. Same obtuseness. Same intransigence. Same banality.

How many Kenyans are in Nairaland or you think Ruto has ambition to one day lead your hopeless Zoo! Old Tinubu will likely finish what Buhari started - which is to bankrupt Nigeria like Ghana.

chrisooblog:
Rafiki I know Ruto has funded your propaganda office since last month hence the outburst and frustration. Hang in there bro you'll pull through

rvp20182:
https://www.capitalfm.co.ke/business/2023/03/govt-to-borrow-sh700bn-as-it-seeks-to-finance-sh3-6tn-budget/
The government was to borrow Sh 700 billion out of which Sh 198.6 billion will be raised from external sources and Sh521.5 billion from the domestic market.

So far external sources have dried up - apart from IMF loan (400M dollars)
I think there is syndicated loan - gov wanted 600M loans - but has gotten 200m dollars.

Domestic debt - total of 521B - is also behind schedule - as gov reject high interest offers.

Don't even argue with me on facts .. I all the time knows what I'm say.

From your treasury, he planned to borrow 864 billion but 9 months into it, he has done 800 billion...
Before the year ends, they expect him to add 100 billion more and this whole borrowing scheme is a disaster.

Kenya more than ever needs to cut it coat according to it size.

Keep the faith bro you can do this .

rvp20182:
How many Kenyans are in Nairaland or you think Ruto has ambition to one day lead your hopeless Zoo! Old Tinubu will likely finish what Buhari started - which is to bankrupt Nigeria like Ghana.