The clouds are gathering!
Strong reactions from Treasury and Foreign Affairs tells Kenyans something is completely wrong with the economy. And there is a desperate attempt to cover up. Key things publicly admitted and to note so far:
1. The economy is not on the right path. The problem is bigger than liquidity. The country is struggling to meet its debt obligations
2. Kasongo and Treasury are desperately trying to negotiate with creditors for debt restructuring and concessional financing. This is part of what Kasongo is going to do in China
3. Final budget decision is made at State House not Parliament contrary to the Constitution
4. There have been cooking of books to exaggerate the size of GDP expansion and growth to create artificial space or justification to borrow more loans
5. The country is facing real danger of debt default in a few months if no drastic action taken
6. IMF, World Bank among other creditors are getting tough on Kasongo on loans' conditions including cutting back loans amount
7. The debt interest repayments alone are dangerously draining the revenue ( and will keep increasing in the next financial years ahead) to the expense of other crucial demands
8. Expensive loans are being borrowed for recurrent expenditure in violation of the Constitution
9. Treasury has signalled to the bilateral and markets the possibility of not meeting debt repayments obligation making it highly expensive to borrow any more
10. Raising taxes won't lead to increased revenue collection but on contrary revenue collection will decline
11. Kasongo is attempting to offer the country's treasures as collateral to borrow loans risking future generations
Where is Aoko, you are asking?
Well, the Horror that our Gen Z went through then is one of what Demonic Wisdom can do, the Church now says...✍️🏾
#GathunguExposed