Ruto focus is AFRICA - pan-africa - africa free trade - and you will see a lot in that area. I expect kenya to lift all visa requirements for all african. I expect to see lifting of all work permits requirement for Africans.

Ruto wants to see trade with Africa countries improve - kenya universities target to have 50 percent revenues from attracting african students.

We are already okay in East Africa - even the timid Tanzania seem to have slowly gotten over their chip in the shoulder. There is alot of free trade/free movements/labour in East Africa. Burundians, Congolese, Ugandans, Rwandes and name them have invaded Nairobi - only problem they are going for low jobs but nobody complain because they are good and more honest than a typical kenyan - and our towns are now more vibrant.

Rwanda is good example. Ghana too is quite progressive - if only they can handle their economics better.

EKONGKING:
William Ruto , should decide whether he wants to be like Buhari ,who destroyed Nigeria literary . or want to be like Paul Kagame, who transformed a previously dying country .

Go to google - type lagos+kidnapping or just click this https://www.google.com/search?q=lagos+kidnapping

GeneralDae2:



You spoilt your otherwise good submission above on Kenya with this. If you want to criticise Nigeria, criticise with facts.

(1) What is the security situation in Lagos compared to Kenya or better still what is that security situation in Lagos driving companies away?
(2) Are you saying there are no leading multinational companies coming to Nigeria?

As for the currency policies, you may have a point, but both of my questions above to you still stands.

Mkenya2019:
Go to google - type lagos+kidnapping or just click this https://www.google.com/search?q=lagos+kidnapping

1) When did Lagos-Ibadan expressway become Lagos?
2) Where is the evidence that companies are refusing to come to Lagos because of kidnapping in Lagos-Ibadan expressway?

Do you know what Lagos-Ibadan expressway is?

rvp2018:
Try Twi otherwise put a link here so I can read for myself...

I just give you Ghana grid company data was that not enough for you?

EKONGKING:
Kenya has all the potential to become a prosperous country in Africa .

Kenya by luck, can count Obama,Rishi Sunak ,Suella Braverman as them via ancestry.
These might not seem important , but it matters as these people will have a little bit of soft spot to country of origin of their parents .
A dynamic president will utilize these small opportunities .

Secondly ,Kenyan total fertility is coming down ,which is very good news as parents can afford their children ,more resources for their development .

Most importantly, the future is in ICT (information technology) Nairobi has all the advantages , Good climate ,comparatively good infrastructure and talent .

William Ruto ,if he really want to transform Kenya ,should focus on human resources and infra .

They are many ICT professionals from African countries ,who want to relocate but unable to do so.


Lagos has advantage in human resources ,but due to security and currency policies , no leading multi national companies will come to Nigeria

what do you mean by the bolded?

rvp2018:
Did you go round all the forex..by tomorrow we will be at 15.. hyperinflation is on..we ended the day at 14.50..tomorrow it hits 15

sorry kiddo
Forex does not work like that

If hyperinflation is maiming you guys in Kenya, don't just assumed everyone is being maimed.

With the constant price increases you guys have faced that has made everything food in your country Kenya more expensive than mine, I think you should be spending more time thinking about how to make life more affordable for Kenyans who have been driven into poverty, all 39 million of them.

EKONGKING:
William Ruto , should decide whether he wants to be like Buhari ,who destroyed Nigeria literary . or want to be like Paul Kagame, who transformed a previously dying country .

You're a fool; how did Buhari wreck Nigeria? Has any president in Nigerian history made strides to the nation's infrastructure—including its roads, airports, and seaports—agricultural production, and social services as Buhari?

rvp2018:
We have the same revenues largely..but you have more debt than us...we are at 80b dollars...you're at 110b dollars.Your total budget including all the 36 states are about 40 billion..Kenya about 35b.From debt servicing ratio alone you're in problems. Your stats only good compared to your estimated GDP... which is just a random figure...not money in gov coffers. Nigeria is worse position surviving on oil windfalls but oil production is falling..now down to mere million barrel per day.The worse you're now borrowing to finance fuel susbidy.That right there is insane.I am nominating you to join Ghana next in the meltdown.Your only advantage your naira is not free floating otherwise black market rate is 800 plus.

Yet you have a higher credit default swap spread than Nigeria. No wonder you are ranked among top countries likely to default on your loans. How can a small poor country like Kenya have a debt portfolio close to that of Nigeria at $80bn? How are you going to pay that back? Don't forget your eurobonds payment are coming due as from 2024, a problem Nigeria doesn't face.

68816419:
what do you mean by the bolded?

He is probably typing from an ogogoro joint.

EKONGKING:
Kenya has all the potential to become a prosperous country in Africa .

Kenya by luck, can count Obama,Rishi Sunak ,Suella Braverman as them via ancestry.
These might not seem important , but it matters as these people will have a little bit of soft spot to country of origin of their parents .
A dynamic president will utilize these small opportunities .

Secondly ,Kenyan total fertility is coming down ,which is very good news as parents can afford their children ,more resources for their development .

Most importantly, the future is in ICT (information technology) Nairobi has all the advantages , Good climate ,comparatively good infrastructure and talent .

William Ruto ,if he really want to transform Kenya ,should focus on human resources and infra .

They are many ICT professionals from African countries ,who want to relocate but unable to do so.


Lagos has advantage in human resources ,but due to security and currency policies , no leading multi national companies will come to Nigeria

I'll show you where these top manufacturers, ICT hubs, or other businesses are located in Lagos if you can name them.

Smaller countries have taken bigger loans.
What creditors look out for is money in your bank to pay off loan.
GDP is theory - just random estimates.
Kenya gov easily collect 20 billion dollars per annum.
Kenya gov also owns more than 200 SOES - including big banks, telcoms name it. Safaricom stake alone in good times can easily pay off all Eurobonds. We never really privatized everything like Nigeria did.

Now move on to Nigeria. In theory it large country with many people - top 10 in the world - and with oil - but what does Abuja finance ministry coffers have.

Nothing. They are empty.

Tax revenues for entire Nigeria is not even 10B dollars. Add maybe another 20B dollars from oil.Then substract 12 billion dollars for a fuel subsidy.

See these things are easy - if you follow them logically.

South Africa have 300B dollars in debt - nobody is complaining - because they easily collect 80-100B dollars in revenue

obaaderemi:
Yet you have a higher credit default swap spread than Nigeria. No wonder you are ranked among top countries likely to default on your loans. How can a small poor country like Kenya have a debt portfolio close to that of Nigeria at $80bn? How are you going to pay that back? Don't forget your eurobonds payment are coming due as from 2024, a problem Nigeria doesn't face.

obaaderemi:
Yet you have a higher credit default swap spread than Nigeria. No wonder you are ranked among top countries likely to default on your loans. How can a small poor country like Kenya have a debt portfolio close to that of Nigeria at $80bn? How are you going to pay that back? Don't forget your eurobonds payment are coming due as from 2024, a problem Nigeria doesn't face.

Ghana with a better cash flow than Kenya will not even borrow that much ... No wonder they are defaulting

The good thing by next week you will be happy to claim it 15 cedis to a dollar - by then it will be 18.
Last week you were insisting it's 10/9.
Today you're happy to report 13.5.
Inshallah we will be here.
Hyper Inflation is not a joke.

Just40:
sorry kiddo
Forex does not work like that

If hyperinflation is maiming you guys in Kenya, don't just assumed everyone is being maimed.

With the constant price increases you guys have faced that has made everything food in your country Kenya more expensive than mine, I think you should be spending more time thinking about how to make life more affordable for Kenyans who have been driven into poverty, all 39 million of them.

Mkenya2019:
The good thing by next week you will be happy to claim it 15 cedis to a dollar - by then it will be 18.
Last week you were insisting it's 10/9.
Today you're happy to report 13.5.
Inshallah we will be here.
Hyper Inflation is not a joke.

Good you know hyperinflation is no joke .... How are you saving Kenya from it ?
39 million poor Kenyans is no joke, such numbers can destabilized a country

Just40:
Ghana with a better cash flow than Kenya will not even borrow that much ... No wonder they are defaulting

Kenya is in serious trouble. That little Indian is just arguing blindly.

Kenya gov just rejected billions of Kshs - they can only take so much.
Which problems again?
Our inflation is still single digit. Less than 10 percent.
Kshs has for whole year moved from 115 to 120 to a dollar
I know you still cant understand how kenya economy operates
Without all the minerals.

IMF were here - they left us with some billions - said everything looking good - debt distress is over.

obaaderemi:
Kenya is in serious trouble. That little Indian is just arguing blindly.

Mkenya2019:
Smaller countries have taken bigger loans.
What creditors look out for is money in your bank to pay off loan.
GDP is theory - just random estimates.
Kenya gov easily collect 20 billion dollars per annum.
Kenya gov also owns more than 200 SOES - including big banks, telcoms name it. Safaricom stake alone in good times can easily pay off all Eurobonds. We never really privatized everything like Nigeria did.

Now move on to Nigeria. In theory it large country with many people - top 10 in the world - and with oil - but what does Abuja finance ministry coffers have.

Nothing. They are empty.

Tax revenues for entire Nigeria is not even 10B dollars. Add maybe another 20B dollars from oil.Then substract 12 billion dollars for a fuel subsidy.

See these things are easy - if you follow them logically.

South Africa have 300B dollars in debt - nobody is complaining - because they easily collect 80-100B dollars in revenue

Not as simple as you think. Kenya has already defaulted on its debt to China, it's master, and it got flogged for it by way of paying a fine. Don't compare yourself to Nigeria or south Africa in this case. Fitch already rated your country B+( If you don't Know what that means, say so).
You are having a harder time paying your debts than Nigeria.

Your budget is fake, hence Ruto is trying to crop it. The only thing that can save you now is imf. You've borrowed beyond your debt ceiling and the bad part of it is that there's no way you can stop. Your reserves are far lower than Nigeria's and your budget and trade deficits are also larger than Nigeria's. I'm not sure you understand the predicament facing your country.

You can project all day all night but it wont help Ghana.
What you need badly and urgently is IMF program otherwise the negative feedback loop continues.
You need a big break from this negative feedback loop that is causing panic and hyperinflation.

Kenya we are fine....IMF just left us 0.5B dollars. This is yesterday.

https://www.imf.org/en/News/Articles/2022/11/08/pr22376-kenya-imf-reaches-sla-on-the-fourth-reviews-of-the-eff-and-ecf-for-kenya
IMF Reaches Staff Level Agreement on the Fourth Reviews of the Extended Fund Facility and Extended Credit Facility for Kenya
November 8, 2022

IMF staff and the Kenyan authorities have reached staff-level agreement on economic policies to conclude the fourth reviews of the 38-month EFF/ECF arrangements. Kenya would have access to about US$433 million in financing once the review is formally completed by the IMF Executive Board.
The new government has expressed strong commitment to the IMF-supported program.
The economy remains broadly resilient. However, volatile international commodity prices, tighter external financing conditions, higher inflation, global slowdown in growth, and continued drought have created a challenging backdrop for economic policy making.
Kenya’s program is helping the country through these global shocks by anchoring policies to support inclusive growth while addressing debt vulnerabilities.

Just40:
Good you know hyperinflation is no joke .... How are you saving Kenya from it ?
39 million poor Kenyans is no joke, such numbers can destabilized a country

obaaderemi:
Kenya is in serious trouble. That little Indian is just arguing blindly.

He thinks Kenya has been in IMF bailout for the past 2 years for no reason.
He has forgotten that IMF will not solve any of their problems and it is part of the reason why they still defaulted on their Chinese debt

Mkenya2019:
You can project all day all night but it wont help Ghana.
What you need badly and urgently is IMF program otherwise the negative feedback loop continues.
You need a big break from this negative feedback loop that is causing panic and hyperinflation.

Kenya we are fine....IMF just left us 0.5B dollars. This is yesterday.

https://www.imf.org/en/News/Articles/2022/11/08/pr22376-kenya-imf-reaches-sla-on-the-fourth-reviews-of-the-eff-and-ecf-for-kenya
IMF Reaches Staff Level Agreement on the Fourth Reviews of the Extended Fund Facility and Extended Credit Facility for Kenya
November 8, 2022

IMF staff and the Kenyan authorities have reached staff-level agreement on economic policies to conclude the fourth reviews of the 38-month EFF/ECF arrangements. Kenya would have access to about US$433 million in financing once the review is formally completed by the IMF Executive Board.
The new government has expressed strong commitment to the IMF-supported program.
The economy remains broadly resilient. However, volatile international commodity prices, tighter external financing conditions, higher inflation, global slowdown in growth, and continued drought have created a challenging backdrop for economic policy making.
Kenya’s program is helping the country through these global shocks by anchoring policies to support inclusive growth while addressing debt vulnerabilities.

I have no time for long essays

IMF will not solve your 12billion dollars debt obligation this for 2022 and neither will they solve your 14 billion dollars obligation for 2023.
You can't borrow anymore to fund your huge budget funding gap and neither can you borrow to pay salaries because debt servicing is taking a huge chunk of your revenue.

How do you manage to borrow so badly such that your obligations get to 14 billion dollars on 80 billion debt

We have never defaulted on china loan.
Kenya and Nigeria have the same credit rating. Both are B/B+. Ghana is down to about D now.
Leading indicator Nigeria will get a cut soon.
Your finance minister is looking to restructure debt.
Our forex reserve are still above 4 months worth of imports.
The inflation is under control - prices have not gone up for months now - and they are starting to come down.
This is because of our strong industrial capacity - that is able to replace imports - if they become more expensive.
Nigeria and Ghana you lack that elasticity.

Again we shall be here to witness Ghana free-fall and soon Nigeria.

obaaderemi:
Not as simple as you think. Kenya has already defaulted on its debt to China, it's master, and it got flogged for it by way of paying a fine. Don't compare yourself to Nigeria or south Africa in this case. Fitch already rated your country B+( If you don't Know what that means, say so).
You are having a harder time paying your debts than Nigeria.

Your budget is fake, hence Ruto is trying to crop it. The only thing that can save you now is imf. You've borrowed beyond your debt ceiling and the bad part of it is that there's no way you can stop. Your reserves are far lower than Nigeria's and your budget and trade deficits are also larger than Nigeria's. I'm not sure you understand the predicament facing your country.

Mkenya2019:
Kenya gov just rejected billions of Kshs - they can only take so much.
Which problems again?
Our inflation is still single digit. Less than 10 percent.
Kshs has for whole year moved from 115 to 120 to a dollar
I know you still cant understand how kenya economy operates
Without all the minerals.

IMF were here - they left us with some billions - said everything looking good - debt distress is over.

Imf came over and gave you some serious bitter medicine to swallow part of which was that your first should stop funding aspects of public education and other things which has suddenly made life more difficult for Kenyans. The same imf you accuse Ghana of running to when it's convenient for you.

And posting charts about your Treasury bonds is not going to help you. That's just more local debt.

Mkenya2019:
We have never defaulted on china loan.
Kenya and Nigeria have the same credit rating. Both are B/B+. Ghana is down to about D now.
Leading indicator Nigeria will get a cut soon.
Your finance minister is looking to restructure debt.
Our forex reserve are still above 4 months worth of imports.
The inflation is under control - prices have not gone up for months now - and they are starting to come down.
This is because of our strong industrial capacity - that is able to replace imports - if they become more expensive.
Nigeria and Ghana you lack that elasticity.

Again we shall be here to witness Ghana free-fall and soon Nigeria.

your industrial capacity produce absolutely nothing hence you huge import. Even Ivory coast has a larger industrial capacity than Kenya.

which import have you replaced?

Explain how your import bill climb yearly and at 22 billion for this year?

We plan to borrow 8B - about 6B from domestic market - and as you can see domestic market has the money.
Now 2B dollars - we will borrow from IMF/WB/ADB.
We cut the budget by 3B dollars - we are fine.
Our tax revenues are growing at 20% - that is another 2 billion dollars.
And next year - we want to jack it to 30B dollars in revenue.

See - Kenya is miles ahead - from your poor Ghana.

Your are now on a death spiral because not only are you locked out of external debt market - you also killed the domestic debt market - by talking about haircut.

It's going to be PAINFUL. You better get IMF program

Just40:
I have no time for long essays

IMF will not solve your 12billion dollars debt obligation this for 2022 and neither will they solve your 14 billion dollars obligation for 2023.
You can't borrow anymore to fund your huge budget funding gap and neither can you borrow to pay salaries because debt servicing is taking a huge chunk of your revenue

Mkenya2019:
We have never defaulted on china loan.
Kenya and Nigeria have the same credit rating. Both are B/B+. Ghana is down to about D now.
Leading indicator Nigeria will get a cut soon.
Your finance minister is looking to restructure debt.
Our forex reserve are still above 4 months worth of imports.
The inflation is under control - prices have not gone up for months now - and they are starting to come down.
This is because of our strong industrial capacity - that is able to replace imports - if they become more expensive.
Nigeria and Ghana you lack that elasticity.

Again we shall be here to witness Ghana free-fall and soon Nigeria.

B and B+ are not the same, Oga. Your ratings are worse at B+. Your Chinese Masters punished you recently for defaulting on the debts to them.
If there's going to be any going under before long, it's going to be Kenya, not Nigeria.

Nigeria is in IMF big time.
South Africa is there.
We went to IMF due to COVID.
IMF was created for such period.
The shame is in going to IMF every year like Ghana.

IMF was created for a reason - and that reason was COVID or Wars.

It was not created to bail out Ghana every two years.

obaaderemi:
Imf came over and gave you some serious bitter medicine to swallow part of which was that your first should stop funding aspects of public education and other things which has suddenly made life more difficult for Kenyans. The same imf you accuse Ghana of running to when it's convenient for you.

And posting charts about your Treasury bonds is not going to help you. That's just more local debt.

Our industrial capacity is constrained by cheap chinese and indian imports
When inflation rises - our local capacity becomes competitive - and jack up production.
That is elasticity that allows us to deal with imported inflation.
Our only problem right now is really OIL...we need to build internal capacity to shift from Oil...through EVS and such

Ghana and Nigeria dont have an handle on imported inflation.

Just40:
your industrial capacity produce absolutely nothing hence you huge import. Even Ivory coast has a larger industrial capacity than Kenya.

which import have you replaced?

Explain how your import bill climb yearly and at 22 billion for this year?

Splitting hairs as usual. This Hanke dude doesnt. Dont try to look for kenya. Kenya is special case of a well managed african economy. The largest non-mineral economy.

obaaderemi:
B and B+ are not the same, Oga. Your ratings are worse at B+. Your Chinese Masters punished you recently for defaulting on the debts to them.
If there's going to be any going under before long, it's going to be Kenya, not Nigeria.

Mkenya2019:
We plan to borrow 8B - about 6B from domestic market - and as you can see domestic market has the money.
Now 2B dollars - we will borrow from IMF/WB/ADB.
We cut the budget by 3B dollars - we are fine.
Our tax revenues are growing at 20% - that is another 2 billion dollars.
And next year - we want to jack it to 30B dollars in revenue.

See - Kenya is miles ahead - from your poor Ghana.

Your are now on a death spiral because not only are you locked out of external debt market - you also killed the domestic debt market - by talking about haircut.

It's going to be PAINFUL. You better get IMF program

borrowing from where with which clearance from ImF?
Borrowing more will only make your situation worse in a debt crisis.
Where are you going to find 15 billion dollars required to fund your Budget?
Where will you find 12 billion dollars for your debt obligation?

The crashing shillings just added 4 billion dollars to your debt.

Your tax revenue can't even fund your wage bill and debt obligations together for it to support your budgetary obligation.

Ghana is rich enough to have too many options to sole it liquidity challenge

Mkenya2019:
Nigeria is in IMF big time.
South Africa is there.
We went to IMF due to COVID.
IMF was created for such period.
The shame is in going to IMF every year like Ghana.

IMF was created for a reason - and that reason was COVID or Wars.

It was not created to bail out Ghana every two years.

is that why they bailout Kenya every 2 years and now on it 24 bailout?

Mkenya2019:
Splitting hairs as usual. This Hanke dude doesnt. Dont try to look for kenya. Kenya is special case of a well managed african economy. The largest non-mineral economy.

I'll look for Kenya in the image below.

We are debt refinancing for quite some time.
We borrow 10B on average; we repay 10B;
That leaves us with 20B dollars to finance our budget.
It's very simple.

Just40:
borrowing from where with which clearance from ImF?
Borrowing more will only make your situation worse in a debt crisis.
Where are you going to find 15 billion dollars required to fund your Budget?
Where will you find 12 billion dollars for your debt obligation?

The crashing shillings just added 4 billion dollars to your debt.

Your tax revenue can't even fund your wage bill and debt obligations together for it to support your budgetary obligation.

Ghana is rich enough to have too many options to sole it liquidity challenge