Monday, February 22, 2021 – Deputy President William Ruto seems to be creeping back to his senses as he realizes too much borrowing is bad for the economy.
This is after he slammed the Government of President Uhuru Kenyatta for its growing appetite for foreign loans, saying too many debts were choking Kenyans and driving them to poverty.
Speaking at Friends Church Kivaywa, Matete, Lugari Constituency, Kakamega County, yesterday, Ruto said the country’s public debt had complicated life for Kenyans, adding that it was time elected leaders and those seeking elective posts floated solutions that will unhook citizens from the debt menace.
According to Ruto, economic empowerment (hustler nation empowerment) of Kenyans at the grassroots level was geared towards reducing the country’s appetite for loans and helping offset existing credit facilities owed to countries like China.
“When everyone is empowered, citizens will be able to pay taxes, and the government will have enough revenue.”
“We will not resort to lenders like China to extend loans to us.”
“Those loans we have acquired are bringing us bad luck (kisirani).”
“I think you have all heard that as of today, even the unborn babies owe our lenders.”
“The only way to end this indebtedness is to enable citizens in the villages to do lucrative businesses,” said Ruto.
Ruto’s remarks came days after President Uhuru Kenyatta took a swipe at him and even dared him to resign for criticizing the same government he was serving in.
Two years ago, Ruto defended the Jubilee government’s appetite for foreign loans, arguing the borrowing was still within manageable levels.
This is despite concerns raised by former Prime Minister Raila Odinga, the International Monetary Funds (IMF) and the Central Bank of Kenya (CBK).
The Kenyan DAILY POST