Anyone read David Ndii's article today in the Nation.

Makes for harrowing reading.

In the subsequent three weeks, the government had borrowed a total of Sh63 billion at interest rates over 20 per cent, half of it from three month Treasury Bills.

The government is refinancing cheaper medium and long-term with very expensive short-term debt.

In short, it is charging a credit card to make mortgage payments.

The men in-charge are in denial. Treasury Cabinet Secretary Henry Rotich confidently told parliament the other day that government will continue borrowing and, therefore, he does not expect interest rates to come down soon.

If interest expectations don’t change very quickly, the government would borrow Sh300 billion at an average of 25 per cent by Christmas, and that is a best case scenario.

That’s an interest cost of Sh75 billion. It will eat up the syndicated loan they’ve just borrowed. When in a hole, you are supposed to stop digging.

www.nation.co.ke/oped/Op.../-/11b35qdz/-/index.html

Those responsible , at an opportune time or after we're done in 2017, we should ensure the culprits languish in jail for very long

Grapevine has it that the reason KRA is not meeting target is coz of them.They were given posts in Msa port and they are looting like there is no tomorrow.Unfortunately they steal 100% unlike others before them who would steal 10% and let government have 90%.

middle class peeps, with their consumption loans so how can the african find out the mzungu is not sharp if its the same mzungu who wrote the book.

Swali langu ni moja tu.
Laptop ziko wapi?? :)