Just40:
is that why they bailout Kenya every 2 years and now on it 24 bailout?

Just40:
is that why they bailout Kenya every 2 years and now on it 24 bailout?

Mkenya2019:
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.

obaaderemi:
I'll look for Kenya in the image below.

Just40:
Yet none of your local production has gone up.. only thing that went up was your import bill because of inflation.

Ghana and Nigeria produce most of the products consumed in both countries. So there is almost no imported inflation

Mkenya2019:
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.

Mkenya2019:
We had intense period in 1990s when we dealt with IMF.
Legendary Moi got something close to 10 IMF programs in a decade.
He would agree to their conditions - then promptly refused to honour them.
IMF would cut the program. Moi would go back to Washington DC and cajole them.
We had start and stop IMF programs - and eventually they built themselves a big office in Nairobi.

We also got our first and only hyperinflation in 1993 - lasting six months. Moi like Ghana initially went for boneheaded idea to steal DRC gold and use it as forex.

Moi was a legend because many economies couldnt have survived that 1990s sanctions he got....pretty much kenya was locked out for 10yrs as western countries tried to overthrow moi and failed.

Mkenya2019:
You just heckling as usual with little data.
Currency inflation tell you many things.
It's all here. Save your words.

Just40:
not when no one wants to loan you money for you to use to pay Paul.
That is why you're defaulting.

Now you have to generate money from somewhere hence the deep crisis you're in

Just40:
I'm referring to the hyperinflation from last year to today

Just40:
explain why prices on Kenya markets more expensive than in Ghana?

Mkenya2019:
You only default; If you cant borrow anymore; and you like Nigeria have debt obligation exceeding 100 percent;
Kenya is doing 10B borrow; 10B repay.
If we stopped borrowing
We would have 20B; we will have to repay 10B; and use 10B - that should cover salaries and recurrent expenditure.
We would cut 10B - development vote.
That would be the worse case scenario.

Mkenya2019:
Madness as usual. I think it bipolar.

Mkenya2019:
Prices of what and when. Ghana right now you need an hourly update of prices.

Just40:
My debt obligation is only 2.7 billion dollars...
That is peanuts 30% of my revenue.


No one is giving Kenya money to refinance.

Borrow another money from your domestic market and watch your debt obligation increase from 14 billion dollars to 16 billion dollars .

The IMF won't even allow o

Just40:
Basic commodity prices.. rice, oil, cement and etc

That's what practicality is

Mkenya2019:
Your revenues are peanut. Less than 10B dollars.
Your tax revenue last year was 8.8B dollars.
Less than 60B cedis. Roughly 5.5B cedis per month. Kenya is clocking 2B dollars a month.

Just40:
My revenue was 15 billion dollars last year and this year we will hit 16 billion dollars though we should have hit 20 billion dollars.

Keep twisting argument


Debt servicing and your wage bill, you'll have to prioritize which one you want to pay first and which you'll be begging the IMF and WB to support you pay

68816419:
Ikoyi, Lagos —too many unreported buildings, destined to be the African region with the highest concentration of skyscrapers

https://www.youtube.com/watch?v=SuSujNgSu1M

Mkenya2019:
This was denied. There is difference btw a delay and a default. Ethiopia has defaulted. Zambia has defaulted. If you delay - you get fined. If you default - it become NPL - non performing loan.

Mkenya2019:
Nigerians should listen to this woman...and fix their country.

I think the thing that is profound & unique is kenya co-operative nature - the harambee spirit (national etho) lives in kenya - most kenyans are just in some co-operative thing or initiative - from close relatives, colleagues, neigherbours, name it, put 3 kenyans - and they will start to cooperate soon - and fix their problems. Their is always a cooperative of some form for almost anything. Big problems are reduced to very small manageable bits as everyone chip in.

Harambee
This single word unified Kenya after British rule, set the nation on a path of self-determination and forever changed Kenya.

A long-standing Kenyan tradition, a harambee is a type of self-help event that’s deeply ingrained in the moral compass of the country. The word means “all pull together” in Kiswahili, Kenya’s national language. It is the nation’s official motto; it appears on the country’s coat of arms; and it encompasses a concept of placing the group before the individual. For us Kenyans, a harambee represents an unwritten law of generosity, and regardless of class, ethnic group, gender or religious background, we will lend a hand to assist anyone in need.

https://www.bbc.com/travel/article/20201004-harambee-the-kenyan-word-that-birthed-a-nation

https://www.youtube.com/watch?v=5WLoiobOmiw

obaaderemi:
There's nothing to learn here. This is something that has been in Nigeria for ages. If you are in doubt, read chinua Achebe's Man of the People and No Longer at Ease to see how Igbos were pooling resources to send poor children to universities home and abroad. Not to talk of cooperative unions building schools and doing microfinance even before the word 'microfinance' was coined.

rvp2018:
Of course it was there but you stopped.Ubuntu was there all over but you have not developed it.Kenya has world 7th largest cooperative movements

obaaderemi:
Who told you that? Some of the cooperative societies became microfinance banks. And many more cooperative societies are springing up.

68816419:
Ikoyi, Lagos —too many unreported buildings, destined to be the African region with the highest concentration of skyscrapers

https://www.youtube.com/watch?v=SuSujNgSu1M

Mkenya2019:
Data source. Share you CPI. Bring your cooked CPI we see
CPI is collected countrywide on several shops and supermarkets.
https://www.knbs.or.ke/download/consumer-price-indices-and-inflation-rates-for-august-2022/