WEDNESDAY, May 27, 2015 | www.x-news.co.ke
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terror attack officer wounded in yumbis succumbs to injuries
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trade matters cs amina says all is set for december wto meet
NEWS julius yego shatters national javelin record
Kenya remains afloat as world drowns in debt
T
he world is drowning in debt and Kenya is stuck somewhere in the middle, a report from US-based investment firm, Goldman Sachs Asset Management says. Kenya, however, appears to be doing relatively well when checked against the world’s other countries. Kenya’s external debt stood at Sh1.3 trillion in early 2015 says a report by market analysts, Trading Economics. This may be lower than
the debt of countries like Zimbabwe, which owe external lenders about Sh980 billion, but Kenya is still better off than many of its African neighbours. Based on the country’s debt-to-GDP ratio, Kenya is doing relatively well at 53.5 percent. Debt-to-GDP ratio is the ratio between a country’s government debt and its gross domestic product (GDP). A low debt-to-GDP ratio shows that a country’s economy can produce and
sell enough goods and services to pay back its debts without incurring further arrears. A high ratio means otherwise. In which case, Kenya has a ratio of 53.5 per cent compared to Zimbabwe’s dismal 202.4 per cent. Greenland appears to be free of debt, sporting a ratio of less than 10 per cent. External debt is responsible for rising interest rates, higher taxes and a weak job market both in Kenya and across the world. CONTINUED ON PAGE 2
PRESIDENTIAL POSE: President Uhuru Kenyatta poses for a photo at the Voi River Super Bridge for the Standard Gauge Railway at the Tsavo National Park in Voi yesterday. It is such projects that are said to sink countries into debt.
FIFA chiefs busted in corruption charges Acting on an indictment by the U.S. Justice Department, Swiss police have arrested six top FIFA officials, including its vice president, during an overnight raid to day on charges of corruption.
In all, up to 14 FIFA officials are expected to be named in the indictment when it is unsealed in a federal court in New York later today. CONTINUED ON PAGE 2