KulaRaha wrote:Kenya’s spending on
oil imports has increased 29.38 per cent in the 12 months to November 2010, making it the single biggest import item, according to a report by the banking sector regulator.
...
The Central Bank of Kenya (CBK’s) monthly economic review dated December shows
total imports increased by $1.8 billion to $12 billion in the one year to November 2010.
http://www.businessdaily.../-/5p3hfqz/-/index.html
Dont believe all the hogwash out there...someone somewhere didn't do his job and is looking to share blame.
I see your point.As pointed out..we import more than we export..always.. nothing special about that.
CASE: if the proposed 45Billion Euro Bond is floated..at a rate less than 6%...which is about half what Treasury is able to afford in domestic debt..potential impact on profits of banks that are really enjoying the money hungry treasury's thirst for cash?
if Treasury found an alternative source of funds... interests fall overnight..to detriment of banks
As
deal points out...its just business. If you were a bank.. you would not mind the euro bond idea staying dead.. if you could contribute in some way..eg..get CBK to intervene in liberalized FOREX market..thereby disqualifying the possibility of the Euro bond indefinitely..you would exercise that option won't you?
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version