Gen Z Kenyans protest tax hike
- Thread starter lahaine
- Start date
explaining the situation.Kenya is probably going to default against their loan from China. Generations of tax payers will be paying back that debt (train debt), stupid move on the government’s part. Either that or Mombassa port will belong to the CCP for the next 99 years. African leaders, aren’t they brilliant !
The debt earned by the train was worth it tbh that's how most Kenyans see it. Travel between Mombasa and Nairobi takes 4 hours at most also the train will extend to Kisumu the third largest city that means the three most important cities will be linked by a high speed train.
I think the CCP will be given a portion of the Lamu port as the government pays the debt slowly.
Ethiopia already defaulted and Kenya is on the verge of defaulting what happens next
A debt default can have several significant disadvantages:
1. Increased Borrowing Costs: Defaulting on debt makes future borrowing more expensive as lenders demand higher interest rates to compensate for the increased risk.
2. Downgraded Credit Ratings: Credit rating agencies will downgrade credit rating, further increasing the cost of borrowing and making it more difficult to access international capital markets.
3. Loss of Investor Confidence: A default shakes investor confidence, leading to reduced foreign direct investment (FDI) and capital inflows.
4. Economic Instability: The country may face economic instability, including inflation, currency depreciation, and a decline in economic growth.
5. Reduced Public Services: With limited access to credit, the government may struggle to fund public services and infrastructure projects, affecting social and economic development.
6. Impact on Domestic Investors: Domestic investor sentiment may be adversely affected, making it harder for the government to raise funds domestically.
7. Foreign Relations Strain: Defaulting on debt can strain relations with international creditors and financial institutions, making future negotiations and financial assistance more challenging.
8. Social Unrest: Economic hardships resulting from a default can lead to social unrest and political instability as citizens face reduced government services and increased economic pressure.
Glad we didn't fall into this debt trap as we export gas and fish in the coming year 2025 we will definitely perform better than most African economies.
A debt default can have several significant disadvantages:
1. Increased Borrowing Costs: Defaulting on debt makes future borrowing more expensive as lenders demand higher interest rates to compensate for the increased risk.
2. Downgraded Credit Ratings: Credit rating agencies will downgrade credit rating, further increasing the cost of borrowing and making it more difficult to access international capital markets.
3. Loss of Investor Confidence: A default shakes investor confidence, leading to reduced foreign direct investment (FDI) and capital inflows.
4. Economic Instability: The country may face economic instability, including inflation, currency depreciation, and a decline in economic growth.
5. Reduced Public Services: With limited access to credit, the government may struggle to fund public services and infrastructure projects, affecting social and economic development.
6. Impact on Domestic Investors: Domestic investor sentiment may be adversely affected, making it harder for the government to raise funds domestically.
7. Foreign Relations Strain: Defaulting on debt can strain relations with international creditors and financial institutions, making future negotiations and financial assistance more challenging.
8. Social Unrest: Economic hardships resulting from a default can lead to social unrest and political instability as citizens face reduced government services and increased economic pressure.
Glad we didn't fall into this debt trap as we export gas and fish in the coming year 2025 we will definitely perform better than most African economies.
Sorry kenyatis, ruto needs a new mansion
Protestors getting brutalised https://x.com/edgarwabwire_/status/1805521942885105669?t=egVMZ-S6sSLxIerj6Ra2Fw&s=09
The 90s in generally was an unstable era for Africa with so many conflicts and civil wars.
Forget the peace, it's their livelihoods at stake. The finance bill would destroy the average Kenyan's life if it came to pass. Plus, it would have affected the Somalis too.
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