OPINION: GOVERNMENT’S INSATIABLE APPETITE FOR LOANS INDICATES UHURU’S INSENSITIVITY TO THE PLIGHT OF COMMON MWANANCH

By SHAMALA DAUCLAS

President Uhuru Kenyatta will exit power after the 2022 General Elections with one big scar on his conscience.History will have him as the only man in whose presidency Kenya’s borrowing shot beyond the roof, while pilferage of state coffers hit dizzying levels.

After all, hasn’t the man from Gatundu South, himself, admitted, succinctly that under his rein, Kenyans loose Ksh2 billion to corruption daily?That Uhuru is hell-bent on sustaining his insatiable appetite for borrowing loans and, knowingly, mortgaging the country to its debtors gained credence when the International Monetary Fund (IMF) approved a Ksh225 billion loan facility to Kenya to plug financing gaps.

Shamal Dauclas – Photo File

While it is important to acknowledge that Kenya’s economy, like the rest of the world, has taken heavy battering owing to Covid-19 pandemic, the global health crisis can’t be used to explain the dangerous borrowing streak. Under Uhuru, Kenyan has seen its debt stock rush to over Ksh6 trillion yet! The economy is in a sclerotic manner. Evidently.

There is need to formulate measures to revive the country’s fiscal health. Whoever has got Uhuru’s ear should, however, remind him of the deleterious impacts that his uncontrollable desire for loans portends to the country’s future.

Is Uhuru determined to leave behind a country held hostage by its lenders when he cedes tenancy of State House to his successor? The current state of things drive me to think so. The Jubilee regime must tame its borrowing and devise innovative ways of raising money to run the country.

Kenyans have petitioned the IMF to rescind its decision. Will the global lender heed the citizens’ pleas? I have my doubts. Truth be said; Uhuru’s regime has been glorified by the twin scourges of corruption and impunity. The president should listen to his conscience! I know he will.

Shamala Dauclas is the Chairman, Kenya Youth Alliance.

The views expressed in this article belong to Shamala Dauclas and do not necessarily reflect Sichwa New’s editorial stance.

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