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Kenya sinking deeper and deeper into debt

Monday December 1 2014

It is apparent that the Finance, Planning and Trade Committee wants Parliament to approve the request by Treasury CS Henry Rotich to double external debt ceiling from Sh1.2 trillion to Sh2.5 trillion. He says the money is meant to fund key infrastructure projects like SGR and Lapsset.

In June the CS spearheaded the Eurobond in which Sh175 billion was raised at six per cent interest.

Is our growth pegged on foreign debt? Amid all this, austerity measures have gone to the dogs, and ruthless plunder continues.

There is a danger when expenditure exceeds income. A borrower is a slave to the lender.