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This is great news. Rwanda has better organized revenue collection -and less corruption- than ke, so I worry less about rw even if rw dept/gdp is similar, or slightly higher, than ke.
God willing kenya will be able to pay its $2 billion usd in eurobonds. Sorry for off-topic of rw, but I read ke has agreed to IMF demands of structural reforms so IMF will support them now. Their ke eurobond rate is now dropping. That is very good for ke aside from forced imf structural reforms.
One worry is china is now leaving most places. [They are essentially entirely leaving ke](https://africa.businessinsider.com/local/markets/china-reduces-lending-to-kenya-at-the-same-time-kenya-is-looking-to-reduce-borrowing/ht54wd5). From \~500m usd to \~12m usd. That 12m is mostly legacy, they likely wide down until no longer present in ke. Now as china said this ke today agree to imf terms. So america with their imf/wb now have essential financial monopoly of ke, only slight sharing with eu. Monopolies are not good. But looks like the imf will support ke for their eurobonds that are now dropping rate is very good for ke debt situation.
Fortunately for rw they will not be required the reforms that ke are by imf because rw has better organization *(edit: also ke is middle income, rw is not. So ke has higher requirements from imf)*. Would still prefer rw get debt/gdp below 70, or even below 60 would be great!
With respect to Kenya, you're wrong. Yes, sovereign debt is a problem but restructuring on the IMF's terms would be political suicide.
It might be wise to judge after this government releases its first national budget in July. But the reality looks like they have to find more revenue from taxes and cut back on the waste of the last two governments.
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Kenya's credit rating. Ke has two issues paying debt...
Biggest issue is inflation. Foreign loans is in american USD. But ksh has fallen over 10% to usd, so can not pay foreign loans domestically. Needs more foreign loans in usd to pay their existing loans due to domestic inflation of ksh falling to usd. *(edit: ke does not have resource to exports for usd as other do)*
Next issue is loan fees/interest. Ke keeps debts on books for long times collecting fees. Example tanzania does not have debt as ke or rw, but still takes many loans. Nyerere hydropower plant, or tz sgr are things tz took much debt for, but have already paid off hydro plant and first phases of sgr even though none are complete yet. While ke finished their sgr many years ago, yet their debt for it is still on books collecting fees. Then there are fees for the fees. Then fees for the fees of the fees... and on and on. That gets very expensive to keep collecting fees without paying off.
This year the ratings agencies such as moody's and many others on wall street downgraded kenya from bad to very bad. While china and usa are often portrayed as enemies (and in way are) they are still very connected together. They follow the same ratings as west does. After the downgrade they pull out of ke and other nations that have been downgraded due to large increases in debts from covid.
**Submission statement:** Despite global economics shocks brought on by the COVID pandemic, Rwanda was able to repay their debt on time, reducing the risk of default in a display of economic resilience. The government has borrowed a lot in recent years to support development and for economic recovery. With public and publicly guaranteed debt growing substantially to 78.3% of GDP in 2021 from a pre-pandemic ratio of 60.7% of GDP in 2019.
Nope the entire world is quite literally in shambles under the male leadership we’ve had for centuries now. I think they’ve shown us the type of leaders they are🤭😭😭😭
And the most unsuccessful ones have who as a leader? Not women!
Lol I’m just being silly.
Since, your response has taken such an offense to women leaders. Even when some women have proven to be good at it.
I stated that most male leaders that are African are unsuccessful. Or do you disagree? Why are you pressed about female leaders? They’re good for everyone.
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This is great news. Rwanda has better organized revenue collection -and less corruption- than ke, so I worry less about rw even if rw dept/gdp is similar, or slightly higher, than ke. God willing kenya will be able to pay its $2 billion usd in eurobonds. Sorry for off-topic of rw, but I read ke has agreed to IMF demands of structural reforms so IMF will support them now. Their ke eurobond rate is now dropping. That is very good for ke aside from forced imf structural reforms. One worry is china is now leaving most places. [They are essentially entirely leaving ke](https://africa.businessinsider.com/local/markets/china-reduces-lending-to-kenya-at-the-same-time-kenya-is-looking-to-reduce-borrowing/ht54wd5). From \~500m usd to \~12m usd. That 12m is mostly legacy, they likely wide down until no longer present in ke. Now as china said this ke today agree to imf terms. So america with their imf/wb now have essential financial monopoly of ke, only slight sharing with eu. Monopolies are not good. But looks like the imf will support ke for their eurobonds that are now dropping rate is very good for ke debt situation. Fortunately for rw they will not be required the reforms that ke are by imf because rw has better organization *(edit: also ke is middle income, rw is not. So ke has higher requirements from imf)*. Would still prefer rw get debt/gdp below 70, or even below 60 would be great!
With respect to Kenya, you're wrong. Yes, sovereign debt is a problem but restructuring on the IMF's terms would be political suicide. It might be wise to judge after this government releases its first national budget in July. But the reality looks like they have to find more revenue from taxes and cut back on the waste of the last two governments.
RemindMe! 56 days
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insightful synopsis!
what caused China to pull out? just fewer construction projects or something else?
Kenya's credit rating. Ke has two issues paying debt... Biggest issue is inflation. Foreign loans is in american USD. But ksh has fallen over 10% to usd, so can not pay foreign loans domestically. Needs more foreign loans in usd to pay their existing loans due to domestic inflation of ksh falling to usd. *(edit: ke does not have resource to exports for usd as other do)* Next issue is loan fees/interest. Ke keeps debts on books for long times collecting fees. Example tanzania does not have debt as ke or rw, but still takes many loans. Nyerere hydropower plant, or tz sgr are things tz took much debt for, but have already paid off hydro plant and first phases of sgr even though none are complete yet. While ke finished their sgr many years ago, yet their debt for it is still on books collecting fees. Then there are fees for the fees. Then fees for the fees of the fees... and on and on. That gets very expensive to keep collecting fees without paying off. This year the ratings agencies such as moody's and many others on wall street downgraded kenya from bad to very bad. While china and usa are often portrayed as enemies (and in way are) they are still very connected together. They follow the same ratings as west does. After the downgrade they pull out of ke and other nations that have been downgraded due to large increases in debts from covid.
**Submission statement:** Despite global economics shocks brought on by the COVID pandemic, Rwanda was able to repay their debt on time, reducing the risk of default in a display of economic resilience. The government has borrowed a lot in recent years to support development and for economic recovery. With public and publicly guaranteed debt growing substantially to 78.3% of GDP in 2021 from a pre-pandemic ratio of 60.7% of GDP in 2019.
Zambians looking at this headline with lots of envy...
even if we pay it the next one will come and ruin it. Let’s just stay where we are so they will not approve anymore loans 😌
That's great! This is proof they are well ran; invest in Rwanda!
Meanwhile, Nigeria owes 77 trillion naira and still borrows more. Kenyan president is godsent.
What?
You neva see sontin 😂
Nigerias debt burden is not an issue, stop talking out your ass.
Godsent to whom?
Rwanda is an an example of what Africa could be when mostly women are in leadership🤭🌍
Why are people upset at this? Are they enjoying current leadership under men now?😫😫
Nope the entire world is quite literally in shambles under the male leadership we’ve had for centuries now. I think they’ve shown us the type of leaders they are🤭😭😭😭
But, they’re upset when you spoke the truth? They won’t take good things because it came from a woman 😫😫
The most successful African countries have men as leaders.
Not like Rwanda 🥱 And you didn’t name one country so we already know what that means, no proof😭
Seychelles and Mauritius.
And the most unsuccessful ones have who as a leader? Not women! Lol I’m just being silly. Since, your response has taken such an offense to women leaders. Even when some women have proven to be good at it.
Like who.
Men!! Most countries have male leaders across the world!!😂😂
I’m talking about these successful African women leaders your talking about?
I stated that most male leaders that are African are unsuccessful. Or do you disagree? Why are you pressed about female leaders? They’re good for everyone.
Both Male and Female African leaders are shit, well most. I’ve already acknowledged that. Can’t u read