Kenya's US$3.6 Billion IMF programme explained | Business Redefined
Kenya's US$3.6 Billion IMF programme explained | Business Redefined
Visit our website for more https://www.businessdailyafrica.com
#businesdaily #businessnews
source
Reviews
0 %
Hi! I loved your video quality, but I see areas for improvement to boost your views and subscribers. You’re working hard, but if your content isn’t reaching the right audience, it’s not effective. I can help identify the issues and show you how to fix them!
FUTURE PEOPLE AND GOVERNMENT WILL NOT PAY ODIOUS DEBTS AND WILL NOT ACCEPT PERSONAL AGREEMENTS ENTERED BY INDIVIDUALS WITHOUT THE EXPRESS APPROVAL OF KENYANS, AS PER THE CONSTITUTION
And the United Nations Doha (Qatar) Declaration on Financing for Development held from 29th Nov. 2nd Dec. 2008 which stated as follows:
Member States agreed to “intensify efforts to prevent debt crises by enhancing international financial mechanisms for crisis prevention and resolution, in co-operation with the private sector, and by finding solutions that are transparent and agreeable to all.”
It reaffirmed debt resolution principles from the Monterrey Consensus, including “ the need to ensure that debt resolution is a joint responsibility of all debtors and creditors, both State and commercial; to recognize that furthering development and restoring debt sustainability are the main objectives of debt resolution; to strengthen transparency and accountability among all parties; to promote responsible borrowing and lending practices; to improve debt management and national ownership of debt management strategies; and to facilitate equivalent treatment of all creditors.
Cuba
As early as 1898 the US government contended that Cuba should not be held responsible for debt incurred by Cuba's colonial rulers taken without the consent or benefits of its people.
Soviet Russia
Likewise the Soviet state repudiated tsarist debt in 1921 using a similar rationale.
Ecuador
In 2007 Ecuador formed a commission for the Integral Audit of Ecuadorian Debt, it came out with a report that billions owed to the World Bank, International Monetary Fund, the Paris and London Club almost three quarters were just cooked figures full of illegality and illegitimacy in the country's foreign obligations.
Ecuador refused to make the illegal interest payments running into billions, choosing instead to default against this criminal illegitimacy of the World Bank, the International Monetary Fund, and wall Street.
Nigeria
It said that in Nigeria when Olusegun Obasanjo was about to leave office, there was a need to Audit External debts. Which stood at 36 billion dollars in 2007.
In line with what had happened in Ecuador, instead the World Bank, IMF, the Paris and London club, fearing exposure and waking up other countries, came in quickly and gave an offer of writing off a half of that debt amounting to 18 billion dollars, the Obasanjo administration paid the balance of 18 Billion dollars making Nigeria debt free.
Wafa Abedin argued that the World Bank and IMF could manage a Brady-style debt exchange mechanism for heavily indebted countries, which in turn would reduce debt risks (Coulibaly & Abedin, 2023). Ying Qian also claimed that Brady-like restructurings could be useful in reducing post-COVID sovereign debt loads while enhancing the resilience of debt portfolios by introducing, for instance, state-contingent debt instruments (SCDIs) or commodity-linked provisions in the restructured bonds (Qian, 2021). (Shenai et al 2023)
allow corporates to grow by shedding Debt. Poland a good example of this.
13th revenue month and trying to find some kind of buffer because things can go wrong, Murphys Law states anything that can go wrong will go wrong
private sector led growth.
MADNESS AT THE HIGHEST LEVEL
Morden day Colonialism, Imperialism and Slavery through privatization. Using stolen money from the State to steal physical assets from the State in collaboration with foreigners.
Privatization is like the Shamba boy who is employed to look after a home certainly he has money and now wants to buy the home, land and everything from the owner, with a promise that he will take care of the owner if need be!
Privatization theft is the height of madness! State Institutions are deliberately run down to be bought by the same people who were employed to take care of them!!!!
If this madness is allowed, everything including primary schools, hospitals, roads, government offices and others will all be stolen!! GREEDY KNOWS NO BOUNDARIES
PRIVATIZATION IS A CRIMINAL VENTURE AND MORDEN DAY SLAVERY, BEING PERPUATED BY THE WESTERN WORLD THROUGH ITS ATTACK DOGS, THE WORLD BANK AND INTERNATIONAL MONETARY FUND AN EVIL SCHEME OF DISPOSSESSION OF PEOPLE OFF THEIR BIRTHRIGHT PROPERTIES!
Everything for grabs
This guy is anti imf generally he’s not making sense if you are attentive
The Kenyan government decided to be the main driver of the economy rather than leaving it to the private sector. In theory it sounds right but in a low trust society it doesn't work.
Imf debt trap Kenya.the exploitation of Africa must stop
Enable clips we bring our ujuaji