Kwame Owino Profile picture
Aug 14, 2018 7 tweets 2 min read Twitter logo Read on Twitter
Folks, irony is that people are blaming IMF and World Bank for no reason yet they were giving high fives for promises for stadiums, tablets for school kids and last mile connections to nowhere.
The mad spending sprees that GoK went on since 2013 was pure bread and circuses policy of throwing money at problems and acting as if it's a benevolent parent with unlimited money
And GoK even gave as the #SGR train to the coast which cannot pay for itself but will work as a long ride through an amusement park now.
So let Kenyans be adult for once and accept that we have not been victims of so-called Bretton Woods but cheered government as it bough useless stuff using that "platinum credit card" while it was on a day labourer's wages.
Add to this the fact that most of #Eurobond cash disappeared as if knocked by a magician's wand and the responsible people were mad with the @OAG_Kenya for going in search of it
So spare me all that hand wringing and name-calling of IMF and WB and sit back, open your wallets and let KRA collect enough cash so our debts are repaid.
So those "posh & serious" Kenyans who thought that public engagement in policy processes was activism will know that there is hardly enough to stop profligacy and theft.

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More from @IEAKwame

Sep 19, 2018
After parliamentary group caucuses yesterday, it appears MPs will pass the amendments proposed by the executive and load more taxes on Kenyans.
The problem is MPs think this is a one time tax raise to fix things this year but we are on the debt treadmill so next year they will have to feed the Leviathan again.
They have set in motion the definite grind towards a shock and the only thing we shall recall is that it's bipartisan and shared responsibility by executive and parliament.
Read 5 tweets
Sep 18, 2018
The narrative in Kenya has changed to the claim that this administration is incompetent because we lack a strong opposition. Folks, do we ever listen to ourselves talk?
Kenyans, we must not deceive ourselves. We are in a problem that requires sound knowledge of the modern economy and how it works. Competent economists must have a voice or you just see the worst economic management entrenched.
Party supporters behaving like the driver who was employed, drives recklessly, causes a crash & upon being confronted for incompetence reacts by stating that I beat the other guy at the interviews so he could not have driven this bus any safer.
Read 4 tweets
Sep 15, 2018
Folks, reduction of the VAT rate on fuels from 16 % to 8% doesn't mean that the revenue generated will fall by half.
You only think like that if you haven't cared to go to class or borrow an economics text book to understand elasticity and tax incidence.
And you don't get excused from misinformation of the public because you are a commentator on politics or a cartoonist.
Read 6 tweets
Sep 2, 2018
Folks, I look at all national papers covering this VAT on fuel news and think it's nothing but "Manufactured rage".
The reason I call this manufactured rage is that the time to have expressed this rage was four years ago when public sounding started rising by 200-300 billion every year, with parliament's approval
So all this handwriting going and rolling in the ashes is theatre for those who don't pay attention.
Read 10 tweets
Mar 25, 2018
Folks, @KNBStats is one of the few government bureaus that @IEAKenya gives five star for accuracy of information
Very rarely does it publish incorrect data for mischief and never obfuscates about it's publications
So if you reckon that an unemployment rate of 7.4% is low, then be conscious that @KNBStats has not published that for any political effect
Read 17 tweets
Feb 16, 2018
Folks, I hate to give stick to the Kenya press corps but coverage of incident I which an MP was arrested for Treasury Bill fraud is not being explored.
This implies that someone found unauthorized ways to add to the total public debt.
And with a total debt stock of upwards of $40 billion, I shudder that even if this mischief affects only 1% of the total, then some people have become wealthy through manipulation of debt data.
Read 20 tweets

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