Explained: Odious Debt And Why Kenya Should Not Pay It- Jimi Wanjigi
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- Опубликовано: 3 окт 2024
- GUEST: Jimi Wanjigi- 2022 Presidential Aspirant and Businessman
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Jimmy Wanjigi should team up with Omtata and push for a full audit of the debt.
..there is not much time left for that unfortunately considering how long those processes take
You realise we need a leader not a politician, this man is knowledgeable and understands the dynamics of our country economy, the kind of leader we need
Pure wisdom, Gen Z need to hear this.
Let's have Jimmy W. for Q&A session.
Forward this to genz group.
Instead of Eric trying to lynch Jimmy at every opportunity, as a journalist and all journalists in Kenya, they should independently investigate this matters. These documents are publicly available and they can consult lawyers on the legal status of debt items.
Kenyan journalists are lazy
Which is ironic because their media station is on its deathbed - due to harsh economic conditions
standard has moi family money. its not going anywhere@@gamersnevercryever
eric playing devils advocate was sublime ..CT always bringing that anthropological angle gives the social ramifications of what awaits..nduu always tryiing to reduce the problem to granular levels for easy digestion is always the icing..what an excellent episode..saved for future reference and 'revisits'
I see what u did there may I say very sublime observation!
Brilliance!
When Jimmy comes to the show, I have to have a notebook, pen, calculator and Google search open.
I love the way Ndu Okoh,and Ct Muga are framing their questions,this is so simple for any common Kenyan to understand.
One day Jimmy will be President of Kenya!
Kenyan voters love their thieves and liars.
He doesn't have to be.. But he's been giving very useful information any Kenyan who has the ability to listen, something we really need to appreciate.
amen
In international law, odious debt, also known as illegitimate debt, is a legal theory that says that the national debt incurred by a despotic regime should not be enforceable. Such debts are, thus, considered by this doctrine to be personal debts of the government that incurred them and not debts of the state.
We need to safeguard the future of this country and the future of those generations coming after us. We need to stop this.
Excellent explanation
They know what jimmy is talking bout is the truth and he’s enlightening kenya 🇰🇪 s how money is being stolen
You're the brains we need to get Kenya out of this space.
The current president was part of that despotic regime.
This is an important contribution to this crucial conversation. On a personal note, amongst a certain group of Africans in the diaspora, we have been asserting this for 30 years! It is time to legally rectify this matter.
We need to confront the debt holders/bond holders that are enslaving the government. They KNOWINGLY did not practice due diligence nor fiduciary duty in lending to despots, tyrants, failed states, etc. SECONDLY, governments in Africa have rarely been by the people and for the people. The same Lenders have roundly pointed this out for generations. They are. a stage on which to perform for the benefit of their Patrons. It is not legitimate government, but a charade SET UP BY THE PATRONS for the express purpose of making money (even money laundering) That is what many African governments have been with their Western Institution technocrats and lenders and policy writers- there for the purpose of Western Interests.
Africa has matured and needs to discard this charade (clothing garment). It is time to dress up in authentic garments and dance to a tune set by her peoples.
The bond holders and lenders can go chase the charlatans they lent to in their private capacity, as the governments shed that legacy as a NULL & VOID entity (like a corporation that goes out of business) and let her shareholders (the citizens) create a new entity of governance (a new corporation...so to speak).
This must be done legally and even have place in International Affairs and circles - including the UN Security Council- and other fora. Europe did this quite recently, so it is not unusual (during the transition from their Empire's and Kingdoms, to the presently known "Nation-States").
Africans are NOT obligated to repay a cent or penny of the odious debt accumulated by past regimes since colonialism and so-called "independence".
It means you have no access to your cash, queue outside banks. I experienced it in 🇿🇼. Inflation was so high…you have to gabble you food down in a restaurant to avoid paying more. It is a very traumatising experience…
The Situation Room,, Conversations that shapes the country
Jimmy u r sharp, kudos...why did Ruto lie to us that the govt will pay 300B dollars by December of euro bond, yet they paid 68B...i even expected the govt to pay the whole of june 2024 eurobond by march 2024, now they are borrowing money from china, japan n imf n word bank to clear the eurobond...what does this tell you about our economy? Jimmy is right...we r headed in the wrong direction
When Jimmy is on, it is a Required lecture!
Very insightful information from Jimmy. He's very knowledgeable on matters on Kenya's financial situation.
You're very right.
Anyone who believe Ruto and Gachagua is living in denial
The whole country should listen to this conversation. We have a problem and we have to stop the haemorrhage
Thank you Jimmy Wanjigi...you have a good command
Just revisiting what Jimmy said 5 months later on July 2nd, 2024😥😥
Things looks grim.
Now I understand why it was a must for Ruto to be president. The cartels of the audious debt feared any other person becoming president will rain on their charade.
Invite KBA to explain the consequences to the financial system.
+1
The Ethiopians have already defaulted and are headed for a coup. Kenya is next. 😢
In the meantime, we are being told everything is fine. Not to worry as if we don't have internet. Kujeni UK
@@KashKoalaTell them kenyans like to live in denial things are bad
❤
All is well
Numbers don't lie, jimmy please continue to expose the inadequacies of this government, na pia saidia vijana hatuna kazi tumechoka kuskia jobs being given to certain communities
On the Counties allocation,at start of fy23/24 it appeared that they were getting funds in time but lately the disbursements are 2 months late.Odious debt should be audited by an external forensic audit firm.we are paying for hot air fellow citizens.
Jimi Wanjigi is a God-send to Kenya
Very brilliant guy thanks
the prophecy has come true, spice & jimmy thank you ❤❤❤
I believe Jimmy Wanjigi can make a good president. He seems to care about the ordinary Mwanaichi's interest.
As soon as I saw jimmy I knew the class session has began and I got my own and paper.
Much respect Jimmy Wanjigi
I am a kagege but i wish one day i would wake up and we dont pay that debt as Jimi is saying. If we can afford 70% payment... we good to go
As passionate as Jimi is with his points, I sense some misplacements in his line of thought. To make sense, he has the petitions option honesty to deal with. He can be helpful to Kenyans by offering practical solutions! Naievity i guess!
@@kiptumArapKuchuurei the very question Erick was asking at the end. How exactly would he do it.... how practical is the idea of waking up and saying we won't pay debt
@@alexkibe4179you would be shocked. It has happened before in several countries, there are protocols of the UN to address it, it is easier than you can imagine.
BUT Ruto ate with Uhuru and with Raila which is why even Raila never squeaks about the odious debt. They all ate. Including parliament which is why they are all mum.
Not even a denial.
But now they're threatening judges and activists instead of presenting their case
@josephmungai1799 let's be objective. Wachana na maneno ya judges. Please point me to the direction of the info. I am very curious if it's actually a possibility. You got any examples?
@@alexkibe4179 Google Malaysia 1mDB, that was a scandal similar to our Eurobond
Google Mozambique default ama Mozambique odious debt, in Mozambique activists took the government to court and with evidence the court ordered the government not to pay the Chinese. But in this case it was a new government. Our problem is that Ruto is Uhurus third term
Superb COnversation... thanks for making it plain for us non accountants.
Jimmy is a real deal
The pain is coming in Kenya. People will learn that hustler government meant the citizens getting hustled out of their hard earned money. The diaspora people consider themselves lucky!
Yes. Tutajenga serikali na mama mboga, mtu wa boda boda, hustler etc. simply meant "I'll be coming for your money via taxes and other charges," not by granting them jobs as perceived by many.
I think it's quite naive to say the hustler government, while Jimmy said countless times about servicing debt over 70 % of our tax collection. What can be agreed on is debt audit.
Yes you will be disappointed to hear both Uhuru and Ruto are at fault@@alexkibe4179
The KK doctrine is that you are either a hustler or wealthy. No middle class. That's why the working class is being targeted and pushed down to the hustler class.
My friend, it's not the hustler government, it's a crisis that goes beyond it ,even beyond jubilee,the seeds are or were planted by the devolved system of government,why ,we have nothing that comes those counties,in any case ,they suck blood from the national government,and corruption has imbrolled it's self in them.
Despite all the hate Jimmy receives, he’s one of the few Kenyans able to articulate Kenya’s economic problems so clearly that anyone with basic education can understand
These are people you need near you whether you hate them or not
Please Kenyans, listen to this man!!
Ruto must pay the debt because they looted with uhuru so dont expect him not to pay
Is this program strictly radio or TV to the Kenyan audience? It is talk radio or a visual media show?
My point is this: you cant just "talk" finance. To communicate these issues for wide and accurate comprehension you need to show visual graphs, charts, even animations that show changes in real time. Any business school student or mba can easiky do this!
Jimmy is explaining some very critical issues that 99% of Kenyans are deeply ignorant about and thus are led around by the nose and noise of politiking and can never hold government accountable.
We need this whole show translated into Kiswahili
Started with a bang. Jana Sen Okiya and Fanya mambo, leo Jimmy
Nampenda huyu Mr.,come on speak out uav a lot of truth
Fact pple onboard only
you really need to upgrade the panelists or script the questions and debate.....bcoz the intellectual gap is staggeringly wanting
Just came back to comment that "it has happened", Jimi Wanjigi saw this coming
Sometimes I get confused when it comes to Jimmy Wanjigi. The guy is eloquent, intelligent and daring but when he was vying for presidency in 2022, IEBC declined saying he had no degree but day in day out, this mastery of English fellow knows so much about the economy or our country's figures from his fingertips more than a person that completed PhD in financial management. At this point I get lost because even the most learned with credentials have never contested what he tells us on live television. Someone, tell me something that I don't know. Educate me like a 2yrs old boy seeking clarification. Jimmy is a genius in my view. I stand corrected though.
Yeah you say it all.
Well said
He’s a school of Life PHD holder and has brains and resources to show. Kinda like many top billionaires around the world
They'll do what Simba Arati did in Kisii county, audit the so called debt and pay whatever is genuine!
Our country is heading to a deep ditch where we shall be unable to get out ...I wonder who will save us yet we have families to raise.God help us 😢
This crisis is GLOBAL not just in Kenya.
What can happen if we default this debt??
Sponsored, hate driven commentary won't stop Jimmy. PERIOD!!
Jimmy congrants
EXCELLENT!!!
Jimmy Wanjigi for President 2027.
What will happen to the locals who have bought bonds and tap sales via CBK?
i am a form 1 drop out but i do bliv The book " Confessions of an Economic Hitman" needs to be mandatory reading for every citizen in all countries esp Africa .
We pray for our country 🙏
About the debt, whoever signs and sweet mouths the lender to give the funds should pay. NOT the Kenyans.
please bring this more
this are very scary prospects. Ghana's currency against the US$ is still at a managable level unlike where the KSH is heading
Why can't jimmy and his cohorts just file a case and file it under certificate of Urgency "..so that the citizens can then be the ones suing the culprit/s and inorder to avoid "hot air scenario" hard facts should be tabled,we need the forensic evidence in court like yesterday
People are retreating from business that is not adding up.. taxes that are out of this world,,costs of operation s very high electricity cost is from mass
2027
Jimi - President
Okiya - Vice
You are way off the mark
That's a good combination.
Jimmy's laughing 😂😂😂! Luckily, he has money...
Sheepishly
Sarcastic laughter
You can also laugh without money
HUYU JIMMY NDIYO JIBU TU ECONOMICALLY KWA WA KENYA
WA CONNECT NA RAILA ILI HII MESSAGE ANAYO YA UCHUMI IFIKIE WENGI IWE NA MATOKEO👍
Very insightful keep it up
Please spice fm, invite Jimmy wanjigi again to talk about our weakening shilling. Why is our shilling weakening against the dollar while Uganda's n Tanzanian's remain stable..why is our kenyan shilling depreciating against uganda and Tanzanian's currency n it's not stopping yet we face same global factors n challenges of oil n high interest rates in USA n investors are moving to invest in USA due to high rates. Why why? Yet we are the biggest earners in terms of remmitances from abroad n we received so many tourists in kenya in December...the only difference is that we import a lot of maize n rice...but we export alot of flowers to Uk n hass to europe n china n macadamia n coffee n tea.. why? Its only that we have slightly more imports than exports...does it mean someone is playing around with our currency...what is wrong with our economic advisors...does it mean they are weakening our kenyan shilling intentionally or artificially...is Thugge qualified for this job...why?. Let him critique the remmitances vs our weakening shilling
Something is wrong .....we need answers
1USD will be 200KES soon
He exlaining
Kenya has one of the highest negative trade balances so higher need for dollars. Couple this with high interest rates in the US (which increases demand for dollars globally) and you get the situation we are in.
He has already explained countless times. Pay attention !!!!!
I like jimmy , God bless you
This man jimmy..so sharp
I believe am the change because anything has to do with Jimmy then count me in. GOD help me
What a prediction 💯Paid out
Jimmy ...Ruto is doing what our mzee in Uganda is doing 👌 uses the parliament to pass bogus bills and threatens the judiciary
Jimmy is smart and I see why his that rich
The problem is that the treasury is in the president’s pocket and does not necessarily abode by the budget approved by parliament…it’s like things get sone by the book and the president just ignores it.
The people who should audit are part of the odious debt , Ruto bought 5 helicopters in term 1 , he cannot rise up to the occasion to tackle a mess he is smack in the middle of
Why do you go personal,?
@@jessenjuenjoka4440 It is because the debt mess we are in has been perpetrated by individuals/persons. The only way to build a case for an odious date is to name and shame the individuals who could have contributed to the odious debt.
@@jessenjuenjoka4440 Because Ruto was personally DP for 10 years and is central to the heists in Jubilee upto 2018
Omtata as president, wanjiki as deputy, zakary onyonka finance minister, kalonzo chief justice, we burn jomo kenyatta, kenya shall climb high
I like that combination
I always hear people reference Jimmy as a business man and billionaire but rarely do I ever hear reference to even one of his businesses? Kenyatta=Brookside, Shah=Bidco, Ndegwa=ICEA etc etc. The only business referenced online is Mann Island a tax haven and another company that does large money transfers (ehem...you know what this means). I know he comes on because he gives you clicks but surely gibe me 100 Omtatah videos than a bag man for the wealthy.
I see you were sent you to comment against Jimmy.
I know he has huge apartments in Karen on his father's land just as you go to Karinde.
I know I heard somewhere about him owning certain mall, him being in real estate big time in Runda and Muthaiga.
I know he is in import export too, something to do with cars....
And he has handled his father's money quite well, his father is an old money tycoon from the 70s.
I think he is legit.
If he weren't, believe me, the deep state would have buried him with information
You could start by reading some basic book called cash flow quadrants. Employed, Self-employed, Business and Investments.Wanjigi is strong in Investments Quadrant which depending on how it is structured, things can very quiet on the surface. He is also a wheeler-dealer when and where occasion allows.
How does that relate to the topic.?which famous company do you know ya ruto apart from his farm and hotel
when is kenya currency going to stabilize it went from 100 to 158 to the dollar?
Again spice, I ask you to bring on a cbk or govt economist to debate Jimmy. With facts and figures. Otherwise these interviews are turning into a echo chamber for people to satiate their confirmation bias.
Kra wata collection is 1.4 trillion shillings. Debt 3 trillion shillings. Counties need 990 billion shillings. Salaries and pension 8 trillion shillings . And 2.9 trillion shillings in wastage and budget corruption. Kenya iko already insolvent. This your serekali yenyu kikuyu and kalenjin nation enjoy
How some citizens believed that KK was a solution to Kenya's problems is more miraculous than the Israelites spending 40 years in the desert to cover a travel distance of 218 and 600 miles from Egypt to Canaan.
Solutions is not in men it's in God
Kenya is in a malignancy state,in which blame games will take us nowhere, because, metastasis is continuing,in any case we never chose kk because they were miraculous but their attempting efforts can be seen,the previous regime was warrowing in alcohol and things failed to hold while they watched,infact there was a lot of wastage .read bbi
Bring yukur yatani 😂 to explain what he was doing
I wonder how come daily nation headlines are different for each region in Kenya
In Mombasa it's about top coast schools and the one Eric showed has something about kabarak
You need enemy in your life to win, but you need foolish friend to lose in life.
😂😂
Note to self. Avoid that sinking ship AKA Kenya😂😂😂
Jimmy wanjigi for president
Umenifurahisha
A lot of theory from Jimmy.
Jimmy is a business man, this is the country's economy you're talking about. A Lot plays out to run the country's economy rather than an individual business.
Look at another fool baadaye eti hatukuambiwa
I also think of the same. It's easy to be passionate about an item. But would he run an entire government??
But the Kenyan government is run like a personal business so what’s the difference?
It is exactly like a company with a few extras.
@@alexkibe4179You don't have to be able to run a govt to critique its policies.
IF this was in any western county, which is unthinkable, people would be
totally outraged and it would have immediate sequences
In Kenya ...... nothing!
You are so soaked in orruption, in economic crime, that you just don't care that you are going down
Can we say Wanjigi is a reformed thug for speaking against crimes he used to be involved in?
Was he involved in stockpiling of odious debts? Step forward with evidence.
Jimmy said we have overpaid and have no debt....so are we now defaulting on a debt that doesn't exist?😂
Odeous debt
If the odious debt is not paid, for whatever reason, all banks will go bankrupt I would think. They all hold lots of government debt.
Why should that be the case? Not all debt is odious debt.
@@georgeodhiambo598 I think Jimi said 70% of all government debt is odious. If banks have to write of 70% of their holdings of government debt they are bankrupt.
Jimmy and raila is one ,uhuru and raila is one😢Kenyans!
this guy loves the word Default
My next president.
Share this video Kenya mzima Uhuru and his government must answer where this money went for the last 10 years.
Where was the money spent, that was the most important question
Jimmy simply said Ruto needs to deal with the corruption in Kenyas debt
So why can't Uhuru be asked why they took lots of loans which supercede our repayment capacity?
Why can't ruto investigate him.hawezi juu pia yeye anajua kitu alifanya
I wish the Government well
Ruto is going to muscle everything through, ngombe ya kikalenjin ni ngombe tu kasoro mkia
with kikuyu cheerleaders.. memoris of moi piracy in 90s..do we ever learn?
35% tax is real for those on short contracts.
This gentleman is not an economist.... why bring him to discuss an important economic topic without an expert that has other views. The government loans that are due will replaced with cheaper loans from IMF and World Bank
Now, you are the Charlatan 😅
Wewe ni nini unajua hata shule uli fail
Dont talk things you dont understand..do your research and find out who he is..
No economists is willing to face him
He has clear numbers and numbers do not lie
..then you hear some black Americans claiming they are 'moving back home'.... Wueh😢
KK govt won't stop paying the loan because they were part of the last govt who took the illegal debt.for me I feel there's a bigger play here to see how far kenyans can tolerate all this and what they'll do but time will tell.
When Stanchart liquidated their Bond was the same bond not bought by another investor? Is it the bank that has an issue or the Government?
You’re in denial young man. Wake up!