[quote=hisah]Well, I've been busy reviewing euroland sovereign debt bombs for 2012 trading strategy, until I came across this KE credit rating and I got a brick slammed in my face aka a sobering moment.
Well the chings are worried about KE econ and its solvency by 2013. They also point out the massive KES devaluation, one of the largest currency runs in 2011. I wonder what would happen if one debt troubled euroland nation would experience such a devaluation. Clearly KE econ is rock bottom, cannot crash land.
For those calling for KE to float a eurobond, with such a credit rating, gok would pay dearly due to steep interest rates. At some point gok will experience funding issues both locally & externally - goodluck. This is why I want to see the gimmicks in the June 2012 budget and I hope a new Fin minister will be in place then; the current is asleep with hague nightmares & election dreamland...
Cheresem was quoted in an interesting article about cbk in yesterday's daily nation.
I continue to ask will cbk print the USD?
http://www.dagongcredit....50&table=web_e_zxzx
Update - Daily nation article -
http://www.nation.co.ke/...8/-/v8kmya/-/index.html[/quote]
@hisah, hope you saw cbk's attempt to propel us back to stone age, basically they were planning on monopolizing borrowing to fund a huge deficit especiallyahead in the face of reduced taxes (q1) and the damn war. My opinion, rough waters
A bad day fishing is better than a good day at work