The Archbishop of the Catholic Diocese of Eldoret, Dominic Kimengich has called on President Uhuru Kenyatta to emulate the approach taken by retired president Mwai Kibaki to address economic growth without borrowing.
“During the days of Mzee Kibaki, foreign loans were very small. We were using our existing resources here in the country to grow our economy. It is better to move slowly in terms of borrowing and managing our economy, ”said the Bishop
Speaking after feeding more than 300 street families in Eldoret, Bishop Kimengich said the government's continued borrowing would make Kenya a slave to lenders.
Bishop Kimengich pointed out that corruption and mismanagement of available resources are the main source of Kenyan borrowing.
He said the trend of further borrowing has put the country in a precarious position as large sums of money borrowed are of no use to ordinary citizens because of corruption.
"The culture of over-indebtedness has put our country in a precarious position. Most of the borrowed money does not benefit the country because of corruption and poor economic management, ”said Bishop Kimengich.
"I urge the government to be very careful. If we continue to borrow, who will pay for these debts? We should not leave our children in such a state of debt. The government should go slow in terms of borrowing, ”he added.
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