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Kenya Debt Watch
Scubidu
#181 Posted : Friday, October 26, 2012 10:47:58 PM
Rank: Veteran

Joined: 9/4/2009
Posts: 700
Location: Nairobi
The history of Debt by David Graeber.

The situation the French anthropologist Jean-Claude Galey encountered in a region of the Eastern Himalayas, where as recently as the 1970s, the low-ranking castes-they were referred to as “the vanquished ones,” since they were thought to be descended from a population once conquered by the current landlord caste, many centuries before-lived in a situation of permanent debt dependency. Landless and penniless, they were obliged to solicit loans from the landlords simply to find a way to eat-not for the money, since the sums were paltry, but because poor debtors were expected to pay back the interest in the form of work, which meant they were creditors’ outhouses and reroofed their sheds. For the “vanquished”-expenses were weddings and funerals.

These required a good deal of money, which always had to be borrowed. In such cases it was common practice, Galey explains, for high-caste moneylenders to demand one of the borrower’s daughters as security. Often, when a poor man had to borrow money for his daughter’s marriage, the security would be the bride herself. She would be expected to report to the lender’s household after her wedding night, spend a few months there as his concubine, and then, once he grew bored, be sent off to some nearby timber camp, where she would have to spend the next year or two as a prostitute working off her father’s debt. Once it was paid off, she’d return to her husband and begin her married life.


Read below from page 7 onwards:

http://himalaya.socanth....als/ebhr/pdf/EBHR_08.pdf
“We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden
mwekez@ji
#182 Posted : Wednesday, November 07, 2012 5:03:52 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Moody's assigns stable outlook ratings for Kenya

http://www.businessdailyafrica....36/-/xk2wpw/-/index.html

Heko kwa Kenya inchi yetu
mwekez@ji
#183 Posted : Wednesday, November 07, 2012 5:11:18 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
….. lots of good news coming in >>> Kenya diaspora remittances up 36pc in September http://www.businessdailyafrica....8/-/ma75g3z/-/index.html
hisah
#184 Posted : Friday, November 09, 2012 6:27:58 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
91day - 10.346% up from 10.237% with oversubscription of 447%.

Now with all the maturities clustered in Dec - March, I wonder how CBK will balance the repos... Inflation has bottomed, too much money coming into the circulation as election draws near!


http://www.centralbank.g...ults/Results_1977_91.pdf
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
kizee1
#185 Posted : Saturday, November 10, 2012 11:14:44 PM
Rank: Member

Joined: 9/29/2010
Posts: 679
Location: nairobi
[quote=hisah]91day - 10.346% up from 10.237% with oversubscription of 447%.

Now with all the maturities clustered in Dec - March, I wonder how CBK will balance the repos... Inflation has bottomed, too much money coming into the circulation as election draws near!


http://www.centralbank.g...lts/Results_1977_91.pdf[/quote]


well,bad for kes but good for bonds...every election seems to be preceded by a period of excess liquidity,this one is no different infact this one has extremely high stakes and thus there shall be unprecedented amounts of money floating around
mwekez@ji
#186 Posted : Monday, November 19, 2012 10:06:24 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Treasury seeks quicker issue of international bond

http://www.businessdailyafrica....4/-/3jq94jz/-/index.html
hisah
#187 Posted : Wednesday, November 21, 2012 10:14:03 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
mwekez@ji wrote:
Treasury seeks quicker issue of international bond

http://www.businessdailyafrica....4/-/3jq94jz/-/index.html

Coz of this - www.businessdailyafrica....0/-/13g9ygi/-/index.html

That KRA 45B revenue miss is huge. Short term the domestic market will be crowded by GoK. Not good for biz in Jan when liquidity is tight & heated election campaigns then... Dicey position here for treasury.

The economy slump lag effect is now popping up. Budget vs actual is unbalanced. Cuts will have to be introduced to make targets realistic. In a high stakes election year is this an option? Nop. I'd hate to be in treasury now, the stress & ulcers...

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
mwekez@ji
#188 Posted : Monday, December 31, 2012 10:13:59 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
S&P joins Moody and Fitch in assigning kenya a “stable” outlook based on expectations of fair economic growth, falling inflation and a bet that the March 2013 polls will be peaceful. ... a boost to Treasury’s bid for euro bond

http://www.businessdailyafrica....4/-/1xo4jlz/-/index.html
VituVingiSana
#189 Posted : Wednesday, January 02, 2013 10:10:11 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,350
Location: Nairobi
Not to forget the issuance of fake Treasury Bonds by CBK.

http://www.nation.co.ke/...t/-/h28131z/-/index.html
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mwekez@ji
#190 Posted : Wednesday, February 06, 2013 9:55:59 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Treasury ups debt target by Sh32bn as taxes fall short

http://www.businessdailyafrica..../1/-/njaimb/-/index.html

Finance minister Njeru Githae, however, said the government would exercise prudence while borrowing to avoid elbowing out investors.

“There is liquidity so it is easier to borrow,” said Mr Githae.

The total public debt currently stands at 46.1 per cent of the country’s GDP, which is slightly above the IMF recommended ratio of below 45 per cent.

The government has, however, argued that this is a cyclical rise that will be contained after implementation of new structures created by the Constitution.

“It is still below 50 per cent of GDP so it is still manageable and most of it is internal, which means if we want to reduce it is easy,” said Mr Githae.
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