Sounds preposterous! Outrightly crazy! The jubilee government has broken all records when it comes to debts and Kenya is effectively a country at the mercies of China.
Getting into debt is very easy but realizing you’ve gone too far takes both courage and brains. The Kenyan situation is queer. It is almost as if the leaders are not tracking the debts, piling it up day after day.
According to a report by the Kenya National Bureau of Statistics, Kenya owed China 722.6 billion. That was before the just concluded China Africa conference.
In the year 2016, the debt stood at 312.6 only for it to rise to 478.6 in 2017. The China debt has increased seven fold, from a mere 63 billion in 2013!
At the just concluded conference, China announced a further six trillion shillings in loans to Africa and Kenya’s Uhuru Kenyatta walked away with a further 230 billion effectively crossing the trillion mark!
The trillion should be a psychological mark and Kenyans should wake up to the realization that the country is walking briskly into a debt trap.