Instead of fixing the concrete problems of the people, Kagame pays lobbyists to lie about the problems Rwandans are confronted with. Nobody hides smoke!!
Which is why ” investors” are duped to believe that the economy is fine! Look at the few building in Kigali; occupancy rate stands at around 20%! This is the reason people default and those “magnificent” buildings are auctioned occasionally… banks in Rwanda have serious liquidity issues.
Now Rwanda’s below 3 months reserves! IMF is planning on emergency rescue of Rwanda’s economy to top up the minimum requirement of 3 months reserve!
Rwanda is the only country in that region that has every required such IMF emergency rescue since independence. However, Kagame’s net worth is $500, richer than all living US presidents and Obama put together.
Oh, Rwanda has earned ” negative” credit rating. Meaning that (1) Rwanda has significantly defaulted on its loans; causing significant losses to its creditors. Rwanda has ” defied” the traditional believe most risk analysts hold that a Sovereign ( country) can never pose serious credit risk (2) Rwanda is a high risk foreign investment destination …
By Dr Charles Kambanda
