₦airaland Forum

AfriqueDuZuid:
Angola is over 124b now

Kenya slipped to 8th place now

AfriqueDuZuid:
Its not $399b

vaxx:
You knew you had problem but you didn't lay out a good foundation to resolve it . You rather follow the same predecessor route . Large govt with unreasonable recruitment into govt position without considering the pulse of the nation. That is stupidity.

Sri Lanka case might be a child play comparing to your woes

vaxx:
You actually missing the vital point . he made it clear that you are in debt and the crisis started rightly from 2007 . Blaming ex president for the woes ..

So from the conclusion we can derived kenya has both economic and stability problem .the current administration is really in danger and about to turn to the new srilanka

Just40:
Now Ruto wants to ditch the dollar 😂🤣😂

Just40:
lunatic rants

You're frustrated.. go and blame your government for stupidly borrowing in dollars from the local market

vaxx:
Then government, like a parent, should tell you that indeed money is scarce then give you hope by telling you the initiatives they are undertaking to arrest the situation. Which Ghana has done. We will delay our debt service for a limited now to address the situation. Because basic and human consumption capital salary are never an option to consider ( I mean the civil govt salary , the free education service , the free feeding and boarding will never be touched . They are very paramount ).but delaying payment can come. It is prudent , because we will soon be tapping loan from IMF which will secure our trust back in the financial markey.

The recent evidence of subscribing on our treasure bill has proving the domestic market hasnt loose hope entirely on us . Some country like kenya can't even raised Enough fund thru treasure bill

But if tomorrow come and we could wake up and hear they have hired more govt commissioner and increased State House budget for instant prayers like kenya did then our problem become very horrible . And it shows we don't have competent govt

Just40:
Another lie

80% of all debt that Kenya owes was borrowed in dollars

Go and print dollars and let see.

Kenya went bankrupt as far back as 2017 and you waited for things to become bad before rushing to the IMF, unfortunately it was too late.

Just40:
no you can't print 😂🤣😂

Ghanaian pensioners have no problem ... They were exempted


I'm more worried for all the Kenyans who will not be able to repay their debt to banks and will end up losing their properties.
How about the banks who they owe ?


You have two options, either keep defaultibg on more debts like you've done with the Chinese, American, french and Italian debts for an entire year or stop paying salaries for an entire year ...

Pick your own poison 😂🤣

Ghana was able to avoid both options by simply printing and setting pegging against gold.

Kenya does not have this option

Just40:
confession from a broke country in bankruptcy 🤣😂

Some fathers will not be able to feed their families and pay fees.


For me, it's the fact that the 50% of Kenyans without electricity will not get it and will be in darkness for the next 10 years.

The 60% of Kenyans without water will not have it even in the next 10 years

GeneralDae:
But if you default and do local debt restructuring, then there would be haircuts which would affect the big private sector players and which in turn has its effects.

When you default on your external debts, there becomes the problem of trust. Trust is important in all business deals. Would you be trusted to get good loans in the future? That's the thing.

On the other hand, if you try to plug loopholes or reduce the size of your civil service especially non productive civil service workers, then you can manage the situation.

The only problem is that if your civil service is large and forms the core of your middle class then you have a problem there as well.

None of those choices are easy to be honest.

vaxx:
Ghana prudent policy is indeed bearing fruits ....

vaxx:
kenya case is more worse than being a defualter . Just for the purpose of having a good record from lenders balance sheet and been able to seek more loan in the future , you decide to hang your workers by their neck . You refuse them their salaries and then divert the salaries to pay loans . That is a far worse problem. An incompetent govt that has lost all ideas of economic salvation .


Ghana on the other hand renegotiate her debt statues , we decide to pay later rather than now , we invest the money for the payment in another profitable option while waiting for the matured period and instead of using the money coming from our revenue , we will be taping into profit , therefore we will be paying our lenders with profit and not from our normal tax revenue . That is more prudent .

GeneralDae:
You've been saying this nonsense since 2021, if that were to be the case we would have been bankrupt by now, it's a no brainer. The fact that we aren't tells you, you do not get the full gist of the story just surface headlines.

vaxx:
it is not called default , in technical terms , it is called debt restructuring , you renogotiate the debt to pay at covinenence term when the financial system can support it without any delays. Therefore you grow your portfolio and your capitals increased which is then invested into another profitable ventures . So by the time you will be paying again , it will be from profit made from your capitals and not the usual revenue for servicing debt .

Now your country is broke , she has already exceeded the option of looking into domestic market for borrowing , what se can only d for now is to stop payment of salaries at least to divert the money into debt services inorder to continue with a clear record of not been a defaulter so as to been able to raised another loan in the future .

So your govt prefer to kill her citizens by not paying their salaries and instead used the money meant for civil servant wages to pay back loans.


Very poor country

GeneralDae:
@the bolded, you mean some Nigerian state Governors (very few states at the moment) do that to state workers. The federal workers hardly have such problems.

Nigeria delay salaries for six months; Pension for 2yrs

vaxx:
You should stop being an obtuse . The worse that could ever happens to a country is her inability not it be able pay her workers salaries . That is more terrible in any given time .

Renegotiating of debt is common in many advance nation , what is not common is inability not to pay salaries which is the mess kenya find herself .

You are broke , common salary is now very difficult for you to remit . That is what is cal financial abyass . . An hopeless nation

vaxx:
Ghana doesn't stop paying debt , she only renogotiate it . Now your country is broke , she can't even pay common salary . You are indeed broke . Argue with ruto not me .


Even those who try to pay are using money meant for other project or taking overdraft from bank. Meaning using loans to pay salary

Kazikazi:
Mmmmh
They are now at the border queuing to enter TZ

vaxx:
can you pls shut up. Citizens of a distressed country ... Ghana woes hasn't gotten to the level of not been able to pay salaries.

This is from your presidential adviser on economic matter. Not opposition party .he can be against his own govt


Your country is so broke that there seems not to exist any hope of redemption

GeneralDae:
Lol, when you were quoting opposition opinions from Ghana like Ato Fortson and the likes, didn't you know some were also biased opposition propaganda?
This is not just mere opposition propaganda though. Kenya is going through a lot.

GeneralDae:
I swear down.

Wandayi said that civil servants and MPs have gone to Easter without salaries despite the government's efforts to increase revenue collection. revealed that only the police and military have been paid. "Today, about six months into this regime, Kenya cannot pay salaries, leave alone finance its other operations.

vaxx:
Despite Ghana woes, paying salary has never become a problem.

Kenya is indeed broke and distress, she can't even pay common salary. This only happens when too much of your revenue goes into debt servicing..

Just40:
He was there on a UN assignment

Everywhere around the world, there are monument for unknown soldiers that tribute are paid to in acknowledgement of peace

Just40:
lunatic making up stories as he goes

Just40:
naming a village in your country using an African country name is nothing....

What will impress is when Sierra Leone or Liberia name a place in their country after something of yours...

Presidents of both countries, after the war went around thanking the countries that help them and Kenya was not part of that 🤣😂
Their presidents were even in South Africa to thank them for the help