This evening, we are informed that the IMF is about to lend Kenya some money. 34.5 billion to be precise according to citizen tv. This is just the first instalment. The last instalment will come by June.
Now, we are told this is a loan to fight the Covid-19 pandemic. We don't dispute that we need all the assistance that can be available out there. Infact is there is someone else who can assist, we don't dispute.
But here is the problem. Total debt that Kenya owe debtors is amounting to 7 Trillion. Now, I don't know much about figures, but I think this is a colossal amount of cash my brothers.
One question I need to ask: Can't Kenya raise enough cash on its own internally to sort out her own bills?
Today we were told that KRA has surpersed it's target of tax collection. If this is true, how come the government is borrowing at such a rate?
Where does this money go?
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