{"id":5761,"date":"2019-10-04T10:37:02","date_gmt":"2019-10-04T07:37:02","guid":{"rendered":"https:\/\/africasustainabilitymatters.com\/?p=5761"},"modified":"2026-01-11T05:30:35","modified_gmt":"2026-01-11T05:30:35","slug":"how-to-reset-the-button-for-kenya-economic-takeoff","status":"publish","type":"post","link":"https:\/\/rayscohosting.best\/ASM\/2019\/10\/04\/how-to-reset-the-button-for-kenya-economic-takeoff\/","title":{"rendered":"How To Reset The Button For Kenya Economic Takeoff"},"content":{"rendered":"\n<p><strong>By Mbui Wagacha<\/strong><\/p>\n\n\n\n<p>Kenya\u2019s\nslippage to macro-policy errors has bred a cottage industry of unflattering\nexpert commentaries. As hatched in National Treasury, random missteps, degraded\neconomic policy and advice now risk pushing Kenya to existential lows.<\/p>\n\n\n\n<p>It is\na brand and mindset less of top economics than \u201cshoot first\u201d cowboy bravado on\nspending and excessive debt that avoids prior scrutiny on growth and\ndevelopment results, let alone the morass of corruption and audited looting.<\/p>\n\n\n\n<p>But\nlow bandwidth economic policy bungling is not uncommon. And we can correct it.\nPresident Bush Sr. once called Reagan\u2019s economics \u201cvoodoo economic policy.\u201d Tax\nand trade policy errors pepper Donald Trump\u2019s tweets. Unabashed, he hits out at\nthe Fed (central bank) to salvage himself. The Fed holds firm.<\/p>\n\n\n\n<p>A helter-skelter lack of firmness or capacity marks the Treasury\u2019s brand weaknesses. It sets targets it does not meet, as per main economic indicators. It treats austerity as a mere conversation. Development allocations go unspent or mutate to recurrent spending in lip service to development.<\/p>\n\n\n\n<p>We also bungle existential projects such as Galana-Kulalu on food security. County Governor&#8217;s stage protests for taxpayer funds that some squander, ignoring own-revenue bases, or public services. Policy coordination with CBK\u2019s monetary policy is laughable.<\/p>\n\n\n\n<p>We\nmisrepresent it when Treasury tosses CBK Eurobond proceeds to reserves: that\nrenders CBK a cashier for repayments.<\/p>\n\n\n\n<p>Worse, the interest rate cap argued in defence of private sector credit has mutated to bargain-floor borrowing (in T-Bills and bonds) for the government which sweeps taxpayer funds to commercial banks in redemptions. How will future generations repay debts from a contracting economy? <a href=\"https:\/\/www.businessdailyafrica.com\/datahub\/How-to-reset-the-button-for-Kenya-economic\/3815418-5297234-r1usl5z\/index.html\">Read more>><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Mbui Wagacha Kenya\u2019s slippage to macro-policy errors has bred a cottage industry of unflattering expert commentaries. As hatched in National Treasury, random missteps, degraded economic policy and advice now&hellip;<\/p>\n","protected":false},"author":3,"featured_media":5762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","pagelayer_contact_templates":[],"_pagelayer_content":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[101],"tags":[],"class_list":["post-5761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news"],"_links":{"self":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/5761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/comments?post=5761"}],"version-history":[{"count":0,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/5761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media\/5762"}],"wp:attachment":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media?parent=5761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/categories?post=5761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/tags?post=5761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}