{"id":99858,"date":"2023-08-06T17:09:56","date_gmt":"2023-08-06T17:09:56","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail"},"modified":"2023-08-06T18:01:58","modified_gmt":"2023-08-06T18:01:58","slug":"ruto-blasts-global-credit-rating-bureaus-over-blackmail","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail","title":{"rendered":"Ruto blasts global credit rating bureaus over ‘blackmail’"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>President William Ruto on Sunday blasted international credit bureaus saying they have panicked after the government planned for an early repayment of a Sh280 billion loan.<\/p>\n

The President claimed that some of the bureaus, which he said have been used to blackmailing governments, cannot believe that Kenya has scheduled to start early repayment of the facility.<\/p>\n

“Those credit rating agencies, who were used to using uncouth means to burden countries with additional loans, heard that we are planning to pay our debts before they mature,” he said.<\/p>\n

“Now last week, they started writing letters asking why we have started repaying our loans early….they wanted us to default our loans so that they punish us.” The President said that the country has planned well and will repay its loans and rebuild the country through its own taxes.<\/p>\n

Last week, a rating bureau revised the Outlook on Kenya’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at ‘B’.<\/p>\n

The revision of Kenya’s Outlook to Negative reflects increased external financing constraints amid high funding requirements, including a USD2 billion Eurobond maturity in 2024.<\/p>\n

The rating affirmation balances Kenya’s relatively high government debt and external indebtedness and its narrow revenue base against the authorities’ commitment to fiscal consolidation.<\/p>\n

President Ruto has declared that his Kenya Kwanza administration has stabilised the economy which he said had been ruined by massive debts. The head of state, who has repeatedly insisted that his Bottom Up Economic Transformation (BETA) will change Kenya, said the country is in safe hands and stable going forward.<\/p>\n

Speaking for the first time on the positive progress of the country’s economic trajectory, Ruto said it has taken a a lot of effort and strategy. “We were in a situation where we were deep in debts and did not have a programme to get us out of the mess…I am now happy to tell you that we have stabilised the economy of the republic of Kenya,” Ruto said.<\/p>\n

The president revealed that the good progress has been made possible by blocking any more reckless borrowing by the government. “We have made sure that we have stopped borrowing, left , centre and right,” Ruto said during an interdenominational church service at Sagana State Lodge.<\/p>\n

“When we tabled our 2023-24 budget, we made sure that it would not be a budget of borrowing and I told this young man Ndindi Nyoro, the chairman of the budget and appropriations committee to make sure that we did not have such a budget.”<\/p>\n

The President said that his administration rejected nearly half a trillion in debts that were planned for in the past budget. “We must build this country on the solid foundation….we have nor stabilised the economy,” Ruto said.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. President William Ruto on Sunday blasted international credit bureaus saying they have panicked after the government planned for an early repayment of a Sh280 billion loan. The President claimed that some of the bureaus, which he said have been used to blackmailing governments, cannot believe that Kenya has scheduled to start early […]<\/p>\n","protected":false},"author":84,"featured_media":99856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[6857,7003,544],"class_list":["post-99858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nRuto blasts global credit rating bureaus over 'blackmail' - kenya<\/title>\n<meta name=\"description\" content=\"President William Ruto on Sunday blasted international credit bureaus saying they have panicked after the government pla ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ruto blasts global credit rating bureaus over 'blackmail'\" \/>\n<meta property=\"og:description\" content=\"President William Ruto on Sunday blasted international credit bureaus saying they have panicked after the government pla ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-06T17:09:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-06T18:01:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1691328617.417089.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ruto blasts global credit rating bureaus over ‘blackmail’\",\"datePublished\":\"2023-08-06T17:09:56+00:00\",\"dateModified\":\"2023-08-06T18:01:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail\"},\"wordCount\":482,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1691328617.417089.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail\",\"name\":\"Ruto blasts global credit rating bureaus over 'blackmail' - kenya\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1691328617.417089.jpg\",\"datePublished\":\"2023-08-06T17:09:56+00:00\",\"dateModified\":\"2023-08-06T18:01:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"President William Ruto on Sunday blasted international credit bureaus saying they have panicked after the government pla ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1691328617.417089.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1691328617.417089.jpg\",\"width\":1000,\"height\":667,\"caption\":\"Ruto blasts global credit rating bureaus over 'blackmail'\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/kenya\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ruto blasts global credit rating bureaus over ‘blackmail’\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#website\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/\",\"name\":\"kenya\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/kenya\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Ruto blasts global credit rating bureaus over 'blackmail' - kenya","description":"President William Ruto on Sunday blasted international credit bureaus saying they have panicked after the government pla ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail","og_locale":"en_US","og_type":"article","og_title":"Ruto blasts global credit rating bureaus over 'blackmail'","og_description":"President William Ruto on Sunday blasted international credit bureaus saying they have panicked after the government pla ...","og_url":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail","og_site_name":"kenya","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2023-08-06T17:09:56+00:00","article_modified_time":"2023-08-06T18:01:58+00:00","og_image":[{"width":1000,"height":667,"url":"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1691328617.417089.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Ruto blasts global credit rating bureaus over ‘blackmail’","datePublished":"2023-08-06T17:09:56+00:00","dateModified":"2023-08-06T18:01:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail"},"wordCount":482,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1691328617.417089.jpg","keywords":["Africa Press","Africa Press-Kenya","Kenya"],"articleSection":["all news","policy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail","url":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail","name":"Ruto blasts global credit rating bureaus over 'blackmail' - kenya","isPartOf":{"@id":"https:\/\/www.africa-press.net\/kenya\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1691328617.417089.jpg","datePublished":"2023-08-06T17:09:56+00:00","dateModified":"2023-08-06T18:01:58+00:00","author":{"@id":"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"President William Ruto on Sunday blasted international credit bureaus saying they have panicked after the government pla ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#primaryimage","url":"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1691328617.417089.jpg","contentUrl":"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/08\/sm_1691328617.417089.jpg","width":1000,"height":667,"caption":"Ruto blasts global credit rating bureaus over 'blackmail'"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/kenya\/all-news\/ruto-blasts-global-credit-rating-bureaus-over-blackmail#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/kenya\/"},{"@type":"ListItem","position":2,"name":"Ruto blasts global credit rating bureaus over ‘blackmail’"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/kenya\/#website","url":"https:\/\/www.africa-press.net\/kenya\/","name":"kenya","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/kenya\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/posts\/99858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/comments?post=99858"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/posts\/99858\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/media\/99856"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/media?parent=99858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/categories?post=99858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/kenya\/wp-json\/wp\/v2\/tags?post=99858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}