Explained: Kenya's New Eurobond and Its Impact On The Economy- Patrick Muinde 

Kicking the can down the road

i have liked how Dr Patrick has explained things...in a nutshell we should not be happy with this bond if the government does not put in place measures to grow our revenues and grow the economy...if this is not done we will be in greater problems down the line.

If debt legally should finance a project, then logically debt cannot be used to finance another debt. How come parliamentary leadership is not talking about this?! Can MPs be sue jointly & severally for dereliction of duty?!

The money which has been stolen before is being re-introduced to the local market.. 18% interest is a killer

VERY well put by this Guest..Means i will be buying more dollar for every drop of the dollar value..this the best time to buy the dollar!!! They are temporarily creating a small window for the fools to sell their dollar..this will be the cheapest dollar we will witness.

It is simply top up at high rate

very informative and solid

Summary: Someone stole from us in 2014 and we're paying for the mess now.

When did we approve (in parliament) borrowing for reasons other than development?

The bus left the station with the conductor as the driver !

Kenyan youth should follow international news to understand how their future is being mortgaged. This is exactly what happened in Greece 1. Loans taken to repay loans 2. Production has collapsed, economy artificially propped up with loans 3. No exports, so no income and no jobs so youth (10% of population) have left the country to seek jobs elsewhere 4. Govt seizes people's savings to repay loans, cuts pensions , healthcare etc. We're playing with fire

The plain truth is that we have postponed the burial.

Time for Omtatah to go to court? We need the prospectus / we need know why a new bond was issued - -mischievously mascarading as a buyback. Is this "new issue on buyback" likely to be the new future method to borrow?

We are a good risk

❤

@prestozer Yes, that’s the side of the equation we need to work on. How is the money going to be used to increase productivity? We must demand more from our leaders, right from county level

We elect slay queens, musicians, comedians and some rich guys who know populism to represent us in parliament instead of accomplished project managers, administrators, economists and fair legal minds. Expect mediocrity at the end of the day

What does the future hold for the generations and the next regime/people who take leadership roles? They should be well informed before campaign seasons while also drafting and making promises through their manifesto! Citizens should also demand this prospectus documents to be gazzetted in accordance with the people's constitution.Good governance, such as accountability and transparency, allows citizens to hold authorities accountable for better development results, since it encourages civic engagement in the policy-making process and increases transparency. Accountability can reduce corruption and other abuses such as wasteful spending, assure compliance with standards and procedures, and improve performance and learning. In addition, accountability requires institutions to justify their results to internal and external monitors and stakeholders and impose sanctions for nonperformance or corrupt behavior.

As long as we are doing nothing to improve our balance of payments account, the strength of our shilling will continue to loose value against other currencies.

It's political. This is known as, "Kicking The Can Down The Road"

I think we should only have Afribond not Eurobond, it is time we strengthen the Africa one currency system and Africa free continental trade.

Isnt the revenue side of the eurobnds is longitudinal? We can only realize after 5 yrs / 10 yrs. How do we expect revenues the next day when the roads take 3 years to build ?

This man tell us more forex we need economic solution not just trades

"The Eurobond proceeds were meant for general budget support, including funding of infrastructure and repayment of a syndicated loan." (Citizen digital, 2014). Misappropriation happened there. Ilikulwa. Uhunye alichukua loan na akakula na Wsr badala ya kuinvest.

Let's not sweat the small stuff...the question is : where is this new borrowing going to be used? It can't be used to line personal pockets and then Kenyans pay for it

Was the question of where the balance of $0.5B will be sourced from answered? And is it still due in June?

This folk should know basic financial risks...when you take a sacco loan and use this cash for a project that is meant to generate some income...unfortunately these sacoo monies fail to actualize the project...it's prudent one to take an "expensive" loan to clear the project that once its ready it will generate some income to pay the expensive loan...in country WSR has opted for taxes...further one can also negotiate a favourable grace/repayment terms....

Those so called international investors are just local wakoras with monies held offshore in Dubai. Si we were told by Charargei that Murkomen got $ 100M from CRBC and banked it in Dubai?

Has Parliament approved any of the loans Govt takes out especially these Eurobonds? When did we as a country decide that it is ok to circumvent checks and balances and take out loans in the name of the sovereign when as a matter of fact is it by law that loans are to fund development activities and not to pay other loans?

I changed the dollar at 135 on 15th. This 250 where was it

Tumeuzwa na hatujui,like the last guy said we’re in a plantation na hatujui.🤭🤔🏃🏾‍♂🫣🤫 cotton plantation 😩

We're in limbo 😢

So the immediate former CBK Governor PN was correct😇

A classic case of digging deeper into debt to service debt.... anyone with any sense would advise against this except if you honest to yourself that the new debt will CERTAINLY be put to good, proper and productive use!!!

Am not surprised about any Kenya,we complaining about everything and expect

@stove7197 Sure, we can agree to disagree. That’s why this comment section is available to all. Have a good night Sir 😊

We are COOKED! Akhi Zakayo wewe!

Call someone from treasury. Why is Ndu so excited when she hears there is a problem 😅😅😅😢😢. Araa.

In a nutshell, they're throwing us into a deeper hole... more years paying the interests. If all was right the loan would've been repaid in full on June 2024

OMG ...and KK government is now on top of vehicles shouting how the economy has improved....

Erick anakuaga na ujinga sana 😅😅😅😂

The government is in a cyclic debt and will continue borrowing to fix what's already due. I foresee the country going down the drain if correct intervention measures are not taken soon.

Waaa ruto ni G akili bro

Kenya the only country where patriotism left longtime ago and negativity is their daily food

Every Nation has a debt. America raises its Debt ceiling every year but they spend the money wisely. Go figure....

Ah, so you guys didn’t listen? We Ghanaians have been warning you several times and are living scapegoats. Why?!

Its like some people hoped the nation will sink, and now they are hoping to find some issues with the new direction

For many days, usa hiding dollars to support it is valuable in 2024 or restrictions are removed, and now dollars are available for business, and that's why the economy will be back 2024 but the dollar gains it's value by 35 % against kenya shillings

All I am hearing is wash-wash at a grand scale! Doc is being very economical with the truth.

Tulifuliza tukalipa.

These guys are stealing in our faces, and there's seemingly nothing we can do to stop them. Its is Kenyans who will bear this burden, not the gov't 🤷🏽‍♂️

Fix the waste, pilfrage and corruption as reported by the auditor general reports. Otherwise we will not have money to grow the economy to payoff the loan. We will just be running on a tread mill

This KK government is going to completely mess Kenya's economy. I would advise Kenyans to continue converting Kshs to $s because in 7 years we'll be at over Ksh 250 to the $. But that's my personal opinion and what I'll do.

the project that have been funded by loan are not able to repay loans. Bad debt

Hii sio Eurobond. Hii ni money laundering Kenyan style. Zile pesa waliiba za SGR na za previous Eurobond are being brought into the country for......???? What a coincidence that the infrastructure bond and the Eurobond both happened in the same week and were oversubscribed and by faceless people? Hii ni money laundering. Na ndio wanakimbia kupitisha manyumba ndio waweze kutumia hii Dollars to buy themselves houses. Do not be shocked to find the houses OVERSUBSCRIBED

Ndu’s questions make Zero research and interrupting all the time. Even after the guest answering, she still asks the same questions.

@stove7197 ​​⁠ because your point is useless. These loans have been around for decades. Why didn’t you quote the exchange rate that was there in the 80s and 90s as some of this is money owed from then. Probably because your constant state of outrage doesn’t allow for balanced thinking

Suppose that interest of 750b was paid to kenyans in one way or another? That is what Ruto is aiming for. When the NSSF deduction build the savings we need we shall not borrow from outsiders anymore. For once we are going to create rich pensioners in Kenya

I fail to understand this government of kenya. If you have dept to pay and we have alot of money in peoples account that was stolen from the government. Why not going china way, take back the graft money and properties by force and pay dept.

Dr. Patrick has really tried to explain what's happening with our economy. Unfortunately the lady seems to have and cast doubts into the happenings. Sometimes it's good to have people who are how about finances and economy. Rather than someone who asks long questions that are quite meaningless.

Kenya enemies are very disappointed. Imagine someone sitting behind a mike thinks she as all the answers more than a person who has been employed by government to run this thing for years if not decades.

I think it was smart to issue a new bond. This has caused the shilling to rally making it cheaper for government to pay back its debts

Ndu amechoka na hii country yetu 🤣🤣🤣🤣🤣🤣. She is so frustrated. Nothing makes sense 🤣🤣🤣🤣

What is this guying talking about? If its a managed forex market then why don't you bring it down to 100 again to the USD???