Mapato ya SGR yazidi kupaa, yaongezeka zaidi kwa asilimia %

[MK254]

Ngoma inazidi kunoga....

Revenue generated from the standard gauge railway (SGR) rose 25 percent in the seven months to July, driven by increased imports.

Latest data from the Kenya National Bureau of Statistics (KNBS) shows that revenues rose to Sh9.08 billion from Sh7.2 billion in similar period last year.

The increase comes at a time the country’s import bill grew 27.69 percent, signalling increased volumes of shipments at the Port of Mombasa as economies reopened.

All imported cargo from the Port of Mombasa is ferried aboard the SGR to the Nairobi Internal Container Depot from where it is trucked to other parts of the country and neighbouring countries.

Revenues from the cargo train accounted for more than half of the Sh1.86 billion increase in the SGR revenues.

Cargo revenues rose by Sh1.69 billion to Sh8 billion while earnings from the passenger business grew by Sh690.8 million to Sh1.07 billion.

Cargo and passenger revenues had taken a hit last year due to the travel restrictions imposed to curb spread of the coronavirus that saw the SGR suspend passenger services in May and June.

The pandemic hit the logistics sector, including public transport and the long-haul transits, hard following the imposed night curfew and restrictions of movement in and out of Nairobi metropolitan area, Mombasa, Kilifi, Kwale and Mandera.

The restrictions were lifted in May last year.

The freight train remained operational but closure of ports in main source markets like Japan and China to stem spread of the virus hurt the cargo volumes.

The value of imports in the seven months to July grew by Sh253. 4 billion to Sh1.168 trillion.

The High Court in June extended orders suspending a decision that allowed importers to choose their preferred mode of transport for their cargo, giving Kenya Railways Corporation a reprieve in its efforts to improve returns from the modern train.

SGR revenue up 25pc on increased imports

Revenue generated from the standard gauge railway (SGR) rose 25 percent in the seven months to July, driven by increased imports.

www.businessdailyafrica.com

 

[Babaguy]

Puzzzle solved:
With resent china Jiuquan Satellite Launch, the image captured on ze surface area around ndangayi-azz.Two american student from stanford University in califonia took a four month reserch.
What they found out why there was stars like glitter during certain time of the day in ndanganyi-azz.
Its was not surprising but equally interesting.

 

[Heci]

The typical white elephant project

 

[Kachengcheng]

The typical white elephant project

white elephant Ni Ile yenu 😂😂😂Ngojeni tu ifike

 

[Geza Ulole]

sasa inakuaje mnaomba mkopo kulipa mkopo? 👇 🙆‍♂️ 🤷‍♂️

Kenya seeks IMF aid to repay China loans​

By CONSTANT MUNDA
More by this Author

​

Summary​

• Kenya is considering using funds from the International Monetary Fund (IMF) to repay Chinese loans after it dropped an earlier request to defer debt payments.
• SDRs are the IMF’s unit of exchange based on sterling, dollars, euros, yen and yuan, and can be used to settle obligations like repayment of foreign public debt.

Economy​

Tuesday September 21 2021

Public Debt Management Office Director General Haron Sirima. FILE PHOTO | NMG

Kenya is considering using reserves from the International Monetary Fund (IMF) to compensate for Chinese loans it repaid after the Treasury dropped an earlier request to defer debt payments.

The Treasury says it could use its additional allocation of IMF reserves in Special Drawing Rights (SDR) assets, which can be converted to government-backed money, as one of the options to plug the budget hole.

SDRs are the IMF’s unit of exchange based on sterling, dollars, euros, yen and yuan, and can be used to settle obligations like repayment of foreign public debt.

Director-general for public debt management office at the Treasury Haron Sirima said Kenya has an a raft of options including “use of additional SDR allocation by the IMF” to fill the cash hole left after Nairobi started to service loans from China in July.

Kenya had expected to extend a debt repayment moratorium from bilateral lenders, including China, which started in January 2021, by another six months to December 2021, saving it from making payments of nearly Sh50 billion to Beijing lenders.

Chinese lenders, especially Exim Bank, were uncomfortable with Kenya’s push for extension of the debt service suspension with rich nations, prompting delays in disbursements to projects funded by Chinese financiers.

This forced Nairobi to drop its push for the debt repayment holiday extension by China for fear of straining relations with Kenya’s biggest bilateral creditor.

Dr Sirima said the Treasury has other options, including seeking grants from development partners, changing the funding for “specific” capital projects to public–private partnership (PPP) and tapping the IMF reserves.

“In addition, (we also have option) to rationalise further expenditures to the extent of forgone DSSI funding,” he said in an interview with the Business Daily.

The IMF is expected to play a role in shaping policy that would require the government to implement tough conditions across many sectors.
The conditions are tied to the fund’s multi-billion shilling loan facilities to Kenya where money flows straight into the budget to top up the public purse.

Under the administration of former President Mwai Kibaki, Kenya kept away from this type of credit, with most of the support from institutions like the IMF and the World Bank coming in the form of project support.

Kenya faced a deteriorating cash-flow situation, marked by falling revenues, worsening debt service obligations, and the effects of the Covid-19 pandemic.

The G20 countries, including Belgium, Canada, Denmark, France Germany, Italy, Japan, Republic of Korea, Spain and the USA, rescheduled payments of Sh32.9 billion in principal and interest due between January and June to the next four years with a one-year grace period.

Kenya sought an extension of the debt relief from G20 countries to December, eyeing additional savings of Sh39 billion.

Dr Sirima says response to Kenya’s request for the G20 relief has been “positive”.

Kenya spent Sh99.73 billion less than the cash it had initially budgeted for servicing external debt for the year ended June 2021, partly on the back of the six-month debt relief.

While China is a G20 member and a signatory to the deal, a large proportion of its loans to Kenya has been made on a commercial basis by government agencies, quasi-public corporations and by state-owned banks, such as China Development Bank and Exim Bank of China.

China has sought to negotiate its debt relief deals separately, but applying the same terms as the G20 countries while reserving the right on size and which loans will attract the moratorium.

President Uhuru Kenyatta’s administration has largely taken loans from China since 2014 to build roads, bridges, power plants and the standard gauge railway (SGR).

This started after Kenya became a lower-middle income economy, locking her out of highly concessional loans from development lenders such as the World Bank.

The terms of China’s loan deals with developing countries are unusually secretive and require borrowers to prioritise repayment to Chinese state-owned banks ahead of other creditors. A cache of such contracts was revealed in an earlier report by Reuters.

The dataset -- compiled over three years by AidData, a US research lab at the College of William & Mary -- comprises 100 Chinese loan contracts with 24 low- and middle-income countries, a number of which are struggling under mounting debt burden amid the economic fallout from the Covid-19 pandemic.

It uncovered several unusual features, including confidentiality clauses that prevent borrowers from revealing the terms of the loans, informal collateral arrangements that benefit Chinese lenders over other creditors and promises to keep the debt out of collective restructurings -- dubbed by the authors as “no Paris Club” clauses, the report said.

The Paris Club is a group of officials from major creditor countries whose role is to find solutions to the payment difficulties of debtor countries.

Kenya seeks IMF aid to repay China loans

Kenya is considering using funds from the IMF to repay Chinese loans after it dropped an earlier request to defer debt payments.

www.businessdailyafrica.com

MY TAKE

"Akili za Kuambiwa changanya na za kwako" Jakaya Mrisho Kikwete

 

[Babaguy]

Tuba! My take!!!!!!!Duh.

 

[eliakeem]

sasa inakuaje mnaomba mkopo kulipa mkopo? 👇 🙆‍♂️ 🤷‍♂️

Kenya seeks IMF aid to repay China loans​

By CONSTANT MUNDA
More by this Author

​

Summary​

• Kenya is considering using funds from the International Monetary Fund (IMF) to repay Chinese loans after it dropped an earlier request to defer debt payments.
• SDRs are the IMF’s unit of exchange based on sterling, dollars, euros, yen and yuan, and can be used to settle obligations like repayment of foreign public debt.

Economy​

Tuesday September 21 2021

Public Debt Management Office Director General Haron Sirima. FILE PHOTO | NMG

Kenya is considering using reserves from the International Monetary Fund (IMF) to compensate for Chinese loans it repaid after the Treasury dropped an earlier request to defer debt payments.

The Treasury says it could use its additional allocation of IMF reserves in Special Drawing Rights (SDR) assets, which can be converted to government-backed money, as one of the options to plug the budget hole.

SDRs are the IMF’s unit of exchange based on sterling, dollars, euros, yen and yuan, and can be used to settle obligations like repayment of foreign public debt.

Director-general for public debt management office at the Treasury Haron Sirima said Kenya has an a raft of options including “use of additional SDR allocation by the IMF” to fill the cash hole left after Nairobi started to service loans from China in July.

Kenya had expected to extend a debt repayment moratorium from bilateral lenders, including China, which started in January 2021, by another six months to December 2021, saving it from making payments of nearly Sh50 billion to Beijing lenders.

Chinese lenders, especially Exim Bank, were uncomfortable with Kenya’s push for extension of the debt service suspension with rich nations, prompting delays in disbursements to projects funded by Chinese financiers.

This forced Nairobi to drop its push for the debt repayment holiday extension by China for fear of straining relations with Kenya’s biggest bilateral creditor.

Dr Sirima said the Treasury has other options, including seeking grants from development partners, changing the funding for “specific” capital projects to public–private partnership (PPP) and tapping the IMF reserves.

“In addition, (we also have option) to rationalise further expenditures to the extent of forgone DSSI funding,” he said in an interview with the Business Daily.

The IMF is expected to play a role in shaping policy that would require the government to implement tough conditions across many sectors.
The conditions are tied to the fund’s multi-billion shilling loan facilities to Kenya where money flows straight into the budget to top up the public purse.

Under the administration of former President Mwai Kibaki, Kenya kept away from this type of credit, with most of the support from institutions like the IMF and the World Bank coming in the form of project support.

Kenya faced a deteriorating cash-flow situation, marked by falling revenues, worsening debt service obligations, and the effects of the Covid-19 pandemic.

The G20 countries, including Belgium, Canada, Denmark, France Germany, Italy, Japan, Republic of Korea, Spain and the USA, rescheduled payments of Sh32.9 billion in principal and interest due between January and June to the next four years with a one-year grace period.

Kenya sought an extension of the debt relief from G20 countries to December, eyeing additional savings of Sh39 billion.

Dr Sirima says response to Kenya’s request for the G20 relief has been “positive”.

Kenya spent Sh99.73 billion less than the cash it had initially budgeted for servicing external debt for the year ended June 2021, partly on the back of the six-month debt relief.

While China is a G20 member and a signatory to the deal, a large proportion of its loans to Kenya has been made on a commercial basis by government agencies, quasi-public corporations and by state-owned banks, such as China Development Bank and Exim Bank of China.

China has sought to negotiate its debt relief deals separately, but applying the same terms as the G20 countries while reserving the right on size and which loans will attract the moratorium.

President Uhuru Kenyatta’s administration has largely taken loans from China since 2014 to build roads, bridges, power plants and the standard gauge railway (SGR).

This started after Kenya became a lower-middle income economy, locking her out of highly concessional loans from development lenders such as the World Bank.

The terms of China’s loan deals with developing countries are unusually secretive and require borrowers to prioritise repayment to Chinese state-owned banks ahead of other creditors. A cache of such contracts was revealed in an earlier report by Reuters.

The dataset -- compiled over three years by AidData, a US research lab at the College of William & Mary -- comprises 100 Chinese loan contracts with 24 low- and middle-income countries, a number of which are struggling under mounting debt burden amid the economic fallout from the Covid-19 pandemic.

It uncovered several unusual features, including confidentiality clauses that prevent borrowers from revealing the terms of the loans, informal collateral arrangements that benefit Chinese lenders over other creditors and promises to keep the debt out of collective restructurings -- dubbed by the authors as “no Paris Club” clauses, the report said.

The Paris Club is a group of officials from major creditor countries whose role is to find solutions to the payment difficulties of debtor countries.

Kenya seeks IMF aid to repay China loans

Kenya is considering using funds from the IMF to repay Chinese loans after it dropped an earlier request to defer debt payments.

www.businessdailyafrica.com

MY TAKE

"Akili za Kuambiwa changanya na za kwako" Jakaya Mrisho Kikwete

Wanajisifia wanapata pesa mingi, kumbe siyo zao.
🤣🤣🤣

 

[ForeverMore]

Tatizo comparing the revenue rise with 2020 ambapo revenue zili shuka na kushangilia pato kuongezeka ni ujinga.

Itakuwa poa, ikifanyika comparison na 2019.

 

[permanides]

Nyie mapato yameongezeka wakati Wachina wanataka kuwanywa supu.

 

[Don YF]

Ngoma inazidi kunoga....

Revenue generated from the standard gauge railway (SGR) rose 25 percent in the seven months to July, driven by increased imports.

Latest data from the Kenya National Bureau of Statistics (KNBS) shows that revenues rose to Sh9.08 billion from Sh7.2 billion in similar period last year.

The increase comes at a time the country’s import bill grew 27.69 percent, signalling increased volumes of shipments at the Port of Mombasa as economies reopened.

All imported cargo from the Port of Mombasa is ferried aboard the SGR to the Nairobi Internal Container Depot from where it is trucked to other parts of the country and neighbouring countries.

Revenues from the cargo train accounted for more than half of the Sh1.86 billion increase in the SGR revenues.

Cargo revenues rose by Sh1.69 billion to Sh8 billion while earnings from the passenger business grew by Sh690.8 million to Sh1.07 billion.

Cargo and passenger revenues had taken a hit last year due to the travel restrictions imposed to curb spread of the coronavirus that saw the SGR suspend passenger services in May and June.

The pandemic hit the logistics sector, including public transport and the long-haul transits, hard following the imposed night curfew and restrictions of movement in and out of Nairobi metropolitan area, Mombasa, Kilifi, Kwale and Mandera.

The restrictions were lifted in May last year.

The freight train remained operational but closure of ports in main source markets like Japan and China to stem spread of the virus hurt the cargo volumes.

The value of imports in the seven months to July grew by Sh253. 4 billion to Sh1.168 trillion.

The High Court in June extended orders suspending a decision that allowed importers to choose their preferred mode of transport for their cargo, giving Kenya Railways Corporation a reprieve in its efforts to improve returns from the modern train.

SGR revenue up 25pc on increased imports

Revenue generated from the standard gauge railway (SGR) rose 25 percent in the seven months to July, driven by increased imports.

www.businessdailyafrica.com

progress, the revenue received is higher than any before..,

 

[Don YF]

Nyie mapato yameongezeka wakati Wachina wanataka kuwanywa supu.View attachment 1948440

propaganda hiyo.., mimi naumbua propaganda hadi kwenye mishipa yenu.., soma taarifa kamili 👇 👇 👇 , hakuna mahali Rais Uhuru amekimbilia IMF kuomba msaada.., yaani sensational headline ya media ili msome gazeti inawapa orgasm.,

Headline potovu., Kenya is not seeking., haija amua, it's a consideration, an available option, among many..., wivu itauwa watanzania.,

Kenya seeks IMF aid to repay China loans​

TUESDAY SEPTEMBER 21 2021

Public Debt Management Office Director General Haron Sirima. FILE PHOTO | NMG

Kenya is considering using reserves from the International Monetary Fund (IMF) to compensate for Chinese loans it repaid after the Treasury dropped an earlier request to defer debt payments.

The Treasury says it could use its additional allocation of IMF reserves in Special Drawing Rights (SDR) assets, which can be converted to government-backed money, as one of the options to plug the budget hole.

SDRs are the IMF’s unit of exchange based on sterling, dollars, euros, yen and yuan, and can be used to settle obligations like repayment of foreign public debt.

Director-general for public debt management office at the Treasury Haron Sirima said Kenya has an a raft of options including “use of additional SDR allocation by the IMF” to fill the cash hole left after Nairobi started to service loans from China in July.

Kenya had expected to extend a debt repayment moratorium from bilateral lenders, including China, which started in January 2021, by another six months to December 2021, saving it from making payments of nearly Sh50 billion to Beijing lenders.

Chinese lenders, especially Exim Bank, were uncomfortable with Kenya’s push for extension of the debt service suspension with rich nations, prompting delays in disbursements to projects funded by Chinese financiers.

This forced Nairobi to drop its push for the debt repayment holiday extension by China for fear of straining relations with Kenya’s biggest bilateral creditor.

Dr Sirima said the Treasury has other options, including seeking grants from development partners, changing the funding for “specific” capital projects to public–private partnership (PPP) and tapping the IMF reserves.

“In addition, (we also have option) to rationalise further expenditures to the extent of forgone DSSI funding,” he said in an interview with the Business Daily.

The IMF is expected to play a role in shaping policy that would require the government to implement tough conditions across many sectors.

The conditions are tied to the fund’s multi-billion shilling loan facilities to Kenya where money flows straight into the budget to top up the public purse.

Under the administration of former President Mwai Kibaki, Kenya kept away from this type of credit, with most of the support from institutions like the IMF and the World Bank coming in the form of project support.

The G20 countries, including Belgium, Canada, Denmark, France Germany, Italy, Japan, Republic of Korea, Spain and the USA, rescheduled payments of Sh32.9 billion in principal and interest due between January and June to the next four years with a one-year grace period.

Kenya sought an extension of the debt relief from G20 countries to December, eyeing additional savings of Sh39 billion.

Dr Sirima says response to Kenya’s request for the G20 relief has been “positive”.

Kenya spent Sh99.73 billion less than the cash it had initially budgeted for servicing external debt for the year ended June 2021, partly on the back of the six-month debt relief.

While China is a G20 member and a signatory to the deal, a large proportion of its loans to Kenya has been made on a commercial basis by government agencies, quasi-public corporations and by state-owned banks, such as China Development Bank and Exim Bank of China.

China has sought to negotiate its debt relief deals separately, but applying the same terms as the G20 countries while reserving the right on size and which loans will attract the moratorium.

President Uhuru Kenyatta’s administration has largely taken loans from China since 2014 to build roads, bridges, power plants and the standard gauge railway (SGR).

This started after Kenya became a lower-middle income economy, locking her out of highly concessional loans from development lenders such as the World Bank.

The terms of China’s loan deals with developing countries are unusually secretive and require borrowers to prioritise repayment to Chinese state-owned banks ahead of other creditors. A cache of such contracts was revealed in an earlier report by Reuters.

The dataset -- compiled over three years by AidData, a US research lab at the College of William & Mary -- comprises 100 Chinese loan contracts with 24 low- and middle-income countries, a number of which are struggling under mounting debt burden amid the economic fallout from the Covid-19 pandemic.

It uncovered several unusual features, including confidentiality clauses that prevent borrowers from revealing the terms of the loans, informal collateral arrangements that benefit Chinese lenders over other creditors and promises to keep the debt out of collective restructurings -- dubbed by the authors as “no Paris Club” clauses, the report said.

The Paris Club is a group of officials from major creditor countries whose role is to find solutions to the payment difficulties of debtor countries.

 

[Babaguy]

Nyie mapato yameongezeka wakati Wachina wanataka kuwanywa supu.View attachment 1948440

No, kiti mtu supu is ze real deal

 

[Don YF]

sasa inakuaje mnaomba mkopo kulipa mkopo? 👇 🙆‍♂️ 🤷‍♂️

Kenya seeks IMF aid to repay China loans​

By CONSTANT MUNDA
More by this Author

​

Summary​

• Kenya is considering using funds from the International Monetary Fund (IMF) to repay Chinese loans after it dropped an earlier request to defer debt payments.
• SDRs are the IMF’s unit of exchange based on sterling, dollars, euros, yen and yuan, and can be used to settle obligations like repayment of foreign public debt.

Economy​

Tuesday September 21 2021

Public Debt Management Office Director General Haron Sirima. FILE PHOTO | NMG

Kenya is considering using reserves from the International Monetary Fund (IMF) to compensate for Chinese loans it repaid after the Treasury dropped an earlier request to defer debt payments.

The Treasury says it could use its additional allocation of IMF reserves in Special Drawing Rights (SDR) assets, which can be converted to government-backed money, as one of the options to plug the budget hole.

SDRs are the IMF’s unit of exchange based on sterling, dollars, euros, yen and yuan, and can be used to settle obligations like repayment of foreign public debt.

Director-general for public debt management office at the Treasury Haron Sirima said Kenya has an a raft of options including “use of additional SDR allocation by the IMF” to fill the cash hole left after Nairobi started to service loans from China in July.

Kenya had expected to extend a debt repayment moratorium from bilateral lenders, including China, which started in January 2021, by another six months to December 2021, saving it from making payments of nearly Sh50 billion to Beijing lenders.

Chinese lenders, especially Exim Bank, were uncomfortable with Kenya’s push for extension of the debt service suspension with rich nations, prompting delays in disbursements to projects funded by Chinese financiers.

This forced Nairobi to drop its push for the debt repayment holiday extension by China for fear of straining relations with Kenya’s biggest bilateral creditor.

Dr Sirima said the Treasury has other options, including seeking grants from development partners, changing the funding for “specific” capital projects to public–private partnership (PPP) and tapping the IMF reserves.

“In addition, (we also have option) to rationalise further expenditures to the extent of forgone DSSI funding,” he said in an interview with the Business Daily.

The IMF is expected to play a role in shaping policy that would require the government to implement tough conditions across many sectors.
The conditions are tied to the fund’s multi-billion shilling loan facilities to Kenya where money flows straight into the budget to top up the public purse.

Under the administration of former President Mwai Kibaki, Kenya kept away from this type of credit, with most of the support from institutions like the IMF and the World Bank coming in the form of project support.

Kenya faced a deteriorating cash-flow situation, marked by falling revenues, worsening debt service obligations, and the effects of the Covid-19 pandemic.

The G20 countries, including Belgium, Canada, Denmark, France Germany, Italy, Japan, Republic of Korea, Spain and the USA, rescheduled payments of Sh32.9 billion in principal and interest due between January and June to the next four years with a one-year grace period.

Kenya sought an extension of the debt relief from G20 countries to December, eyeing additional savings of Sh39 billion.

Dr Sirima says response to Kenya’s request for the G20 relief has been “positive”.

Kenya spent Sh99.73 billion less than the cash it had initially budgeted for servicing external debt for the year ended June 2021, partly on the back of the six-month debt relief.

While China is a G20 member and a signatory to the deal, a large proportion of its loans to Kenya has been made on a commercial basis by government agencies, quasi-public corporations and by state-owned banks, such as China Development Bank and Exim Bank of China.

China has sought to negotiate its debt relief deals separately, but applying the same terms as the G20 countries while reserving the right on size and which loans will attract the moratorium.

President Uhuru Kenyatta’s administration has largely taken loans from China since 2014 to build roads, bridges, power plants and the standard gauge railway (SGR).

This started after Kenya became a lower-middle income economy, locking her out of highly concessional loans from development lenders such as the World Bank.

The terms of China’s loan deals with developing countries are unusually secretive and require borrowers to prioritise repayment to Chinese state-owned banks ahead of other creditors. A cache of such contracts was revealed in an earlier report by Reuters.

The dataset -- compiled over three years by AidData, a US research lab at the College of William & Mary -- comprises 100 Chinese loan contracts with 24 low- and middle-income countries, a number of which are struggling under mounting debt burden amid the economic fallout from the Covid-19 pandemic.

It uncovered several unusual features, including confidentiality clauses that prevent borrowers from revealing the terms of the loans, informal collateral arrangements that benefit Chinese lenders over other creditors and promises to keep the debt out of collective restructurings -- dubbed by the authors as “no Paris Club” clauses, the report said.

The Paris Club is a group of officials from major creditor countries whose role is to find solutions to the payment difficulties of debtor countries.

Kenya seeks IMF aid to repay China loans

Kenya is considering using funds from the IMF to repay Chinese loans after it dropped an earlier request to defer debt payments.

www.businessdailyafrica.com

MY TAKE

"Akili za Kuambiwa changanya na za kwako" Jakaya Mrisho Kikwete

Ulisoma taarifa ama kichwa cha habari tu kisha unakurupuka? 😂 😂 😂 😂 vilaza.., though I don't support such a move anyway.

 

[Don YF]

Ngoma inazidi kunoga....

Revenue generated from the standard gauge railway (SGR) rose 25 percent in the seven months to July, driven by increased imports.

Latest data from the Kenya National Bureau of Statistics (KNBS) shows that revenues rose to Sh9.08 billion from Sh7.2 billion in similar period last year.

The increase comes at a time the country’s import bill grew 27.69 percent, signalling increased volumes of shipments at the Port of Mombasa as economies reopened.

All imported cargo from the Port of Mombasa is ferried aboard the SGR to the Nairobi Internal Container Depot from where it is trucked to other parts of the country and neighbouring countries.

Revenues from the cargo train accounted for more than half of the Sh1.86 billion increase in the SGR revenues.

Cargo revenues rose by Sh1.69 billion to Sh8 billion while earnings from the passenger business grew by Sh690.8 million to Sh1.07 billion.

Cargo and passenger revenues had taken a hit last year due to the travel restrictions imposed to curb spread of the coronavirus that saw the SGR suspend passenger services in May and June.

The pandemic hit the logistics sector, including public transport and the long-haul transits, hard following the imposed night curfew and restrictions of movement in and out of Nairobi metropolitan area, Mombasa, Kilifi, Kwale and Mandera.

The restrictions were lifted in May last year.

The freight train remained operational but closure of ports in main source markets like Japan and China to stem spread of the virus hurt the cargo volumes.

The value of imports in the seven months to July grew by Sh253. 4 billion to Sh1.168 trillion.

The High Court in June extended orders suspending a decision that allowed importers to choose their preferred mode of transport for their cargo, giving Kenya Railways Corporation a reprieve in its efforts to improve returns from the modern train.

SGR revenue up 25pc on increased imports

Revenue generated from the standard gauge railway (SGR) rose 25 percent in the seven months to July, driven by increased imports.

www.businessdailyafrica.com

Nikusonga mbele licha ya changamoto.., Kenya, the beloved country by God.

 

[Babaguy]

Ulisoma taarifa ama kichwa cha habari tu kisha unakurupuka? 😂 😂 😂 😂 vilaza.., though I don't support such a move anyway.

Food of thougths, zezetas mind set and instint is wali and chakula nzuri!!

 

[MK254]

Nikusonga mbele licha ya changamoto.., Kenya, the beloved country by God.

Jamaa inawauma sana SGR yetu imepiga hela muda wote huu wakati wao hata kasafu ka Dar-Moro waliahidiwa kuwa tayari miaka kadhaa sasa bado ni hadithi za alfu ulela.

 

[permanides]

Jamaa inawauma sana SGR yetu imepiga hela muda wote huu wakati wao hata kasafu ka Dar-Moro waliahidiwa kuwa tayari miaka kadhaa sasa bado ni hadithi za alfu ulela.

Kuna wadumavu wenzako wa akili hapo juu naona wanahitaji repair kichwani, China ishasema inataka pesa zake zilipwe, Kenya bado anahaha pa kupata pesa, wao wanakenua wanasema ni habari za magazeti ya umbea.

 

[Babaguy]

Kuna wadumavu wenzako wa akili hapo juu naona wanahitaji repair kichwani, China ishasema inataka pesa zake zilipwe, Kenya bado anahaha pa kupata pesa, wao wanakenua wanasema ni habari za magazeti ya umbea.

Wewe, madakari pale muhimbiri have recomended unywe vikombe viwili ya supu kiti mtu na grease job in your skull.

 

[eliakeem]

propaganda hiyo.., mimi naumbua propaganda hadi kwenye mishipa yenu.., soma taarifa kamili 👇 👇 👇 , hakuna mahali Rais Uhuru amekimbilia IMF kuomba msaada.., yaani sensational headline ya media ili msome gazeti inawapa orgasm.,

Headline potovu., Kenya is not seeking., haija amua, it's a consideration, an available option, among many..., wivu itauwa watanzania.,

Kenya seeks IMF aid to repay China loans​

TUESDAY SEPTEMBER 21 2021

Public Debt Management Office Director General Haron Sirima. FILE PHOTO | NMG

Kenya is considering using reserves from the International Monetary Fund (IMF) to compensate for Chinese loans it repaid after the Treasury dropped an earlier request to defer debt payments.

The Treasury says it could use its additional allocation of IMF reserves in Special Drawing Rights (SDR) assets, which can be converted to government-backed money, as one of the options to plug the budget hole.

SDRs are the IMF’s unit of exchange based on sterling, dollars, euros, yen and yuan, and can be used to settle obligations like repayment of foreign public debt.

Director-general for public debt management office at the Treasury Haron Sirima said Kenya has an a raft of options including “use of additional SDR allocation by the IMF” to fill the cash hole left after Nairobi started to service loans from China in July.

Kenya had expected to extend a debt repayment moratorium from bilateral lenders, including China, which started in January 2021, by another six months to December 2021, saving it from making payments of nearly Sh50 billion to Beijing lenders.

Chinese lenders, especially Exim Bank, were uncomfortable with Kenya’s push for extension of the debt service suspension with rich nations, prompting delays in disbursements to projects funded by Chinese financiers.

This forced Nairobi to drop its push for the debt repayment holiday extension by China for fear of straining relations with Kenya’s biggest bilateral creditor.

Dr Sirima said the Treasury has other options, including seeking grants from development partners, changing the funding for “specific” capital projects to public–private partnership (PPP) and tapping the IMF reserves.

“In addition, (we also have option) to rationalise further expenditures to the extent of forgone DSSI funding,” he said in an interview with the Business Daily.

The IMF is expected to play a role in shaping policy that would require the government to implement tough conditions across many sectors.

The conditions are tied to the fund’s multi-billion shilling loan facilities to Kenya where money flows straight into the budget to top up the public purse.

Under the administration of former President Mwai Kibaki, Kenya kept away from this type of credit, with most of the support from institutions like the IMF and the World Bank coming in the form of project support.

The G20 countries, including Belgium, Canada, Denmark, France Germany, Italy, Japan, Republic of Korea, Spain and the USA, rescheduled payments of Sh32.9 billion in principal and interest due between January and June to the next four years with a one-year grace period.

Kenya sought an extension of the debt relief from G20 countries to December, eyeing additional savings of Sh39 billion.

Dr Sirima says response to Kenya’s request for the G20 relief has been “positive”.

Kenya spent Sh99.73 billion less than the cash it had initially budgeted for servicing external debt for the year ended June 2021, partly on the back of the six-month debt relief.

While China is a G20 member and a signatory to the deal, a large proportion of its loans to Kenya has been made on a commercial basis by government agencies, quasi-public corporations and by state-owned banks, such as China Development Bank and Exim Bank of China.

China has sought to negotiate its debt relief deals separately, but applying the same terms as the G20 countries while reserving the right on size and which loans will attract the moratorium.

President Uhuru Kenyatta’s administration has largely taken loans from China since 2014 to build roads, bridges, power plants and the standard gauge railway (SGR).

This started after Kenya became a lower-middle income economy, locking her out of highly concessional loans from development lenders such as the World Bank.

The terms of China’s loan deals with developing countries are unusually secretive and require borrowers to prioritise repayment to Chinese state-owned banks ahead of other creditors. A cache of such contracts was revealed in an earlier report by Reuters.

The dataset -- compiled over three years by AidData, a US research lab at the College of William & Mary -- comprises 100 Chinese loan contracts with 24 low- and middle-income countries, a number of which are struggling under mounting debt burden amid the economic fallout from the Covid-19 pandemic.

It uncovered several unusual features, including confidentiality clauses that prevent borrowers from revealing the terms of the loans, informal collateral arrangements that benefit Chinese lenders over other creditors and promises to keep the debt out of collective restructurings -- dubbed by the authors as “no Paris Club” clauses, the report said.

The Paris Club is a group of officials from major creditor countries whose role is to find solutions to the payment difficulties of debtor countries.

Did you understand these paras!!??

👇🏽👇🏽👇🏽


Chinese lenders, especially Exim Bank, were uncomfortable with Kenya’s push for extension of the debt service suspension with rich nations, prompting delays in disbursements to projects funded by Chinese financiers.

This forced Nairobi to drop its push for the debt repayment holiday extension by China for fear of straining relations with Kenya’s biggest bilateral creditor.

 

[MK254]

Kuna wadumavu wenzako wa akili hapo juu naona wanahitaji repair kichwani, China ishasema inataka pesa zake zilipwe, Kenya bado anahaha pa kupata pesa, wao wanakenua wanasema ni habari za magazeti ya umbea.

Wapi uliambiwa China hatalipwa, huo ulikua mkopo ambao tumekua tukilipa na tutaulipa na mpaka sasa SGR yetu inafanya vizuri na inazidi kunoga, miaka yote hii sio mara ya kwanza kwenu nyie kukurupuka baada ya kusoma magazeti ya umbea kwamba China anataka kuchukua bandari ya Mombasa, huo umbea huwapa raha sana utadhani shahawa zinawatoka hehehehe....

Mimi nashauri mpambane na haya kwanza Nchi iko pagumu sana. Trust me, tunajipa moyo tu