President Ruto hikes cost of all government services
The Move is in line with IMF and World Bank push to raise revenues over and above tax increases targeting service fees that had not been reviewed for years.
Selling an economy for trinkets Part III
A disaster unfolding in Kenya where the government is shooting at teenagers, pushed to the streets to resist attempts by the IMF to extract rent for bondholders at the expense of healthcare, education and basic cost of food.
Selling an economy for trinkets Part II
Before 2008, only South Africa and Seychelles had issued Eurobonds but over the next decade, 21 sub-Saharan African countries including Kenya had had more than one-dollar loan
Selling an economy for trinkets Part I
The IMF in a bid to direct money printed in Western capitals to Africa to compensate for the zero interest rates created a debt bubble which now threatens to destroy East Africa’s largest economy.
Moodys downgrades Kenya on losing tax powers
Moodys said, in the context of heightened social tensions, they do not expect the government to be able to introduce significant revenue-raising measures in the foreseeable future.
President Ruto balances Gen Z, IMF in olive branch
Despite the offer Gen Z protesters turned up in huge numbers for the Saba Saba rally, marking the historical day of protests with calls for President Rutos’ resignation
Kenya eyes World Bank NYOTA to calm angry youth
The IMF had predicted unrest could reemerge in connection with protests against higher cost of living, need to raise more taxes, and electoral process supported by the political opposition.
Private sector, “blink twice if you need help”; Part 1
President Uhuru Kenyatta had been adamant about going after the private sector openly. But his successor President William Ruto was not beholden to this private sector; and seen as a political outsider, he gave the IMF the most realistic opportunity to change
IMF warned Kenya currency strength won’t bring down prices
IMF said models tracking Kenya’s exchange rates movement over decades showed that while prices shot up during currency depreciations, they do not come down when the shilling strengthens.