An archive video of Orange Democratic Party (ODM) leader Raila Odinga lecturing the Jubilee government on its appetite for loans and the debt crisis to which the country has been making the rounds on social media.
In the video, Raila questioned the ruling party’s intention to borrow more than Ksh 86 billion from foreign institutions to pay off inflated debt instead of focusing on development projects.
“Jubilee syndicates Ksh 86 billion in the form of international bank loans, not for development but to fill the holes their looting has created,” Raila said.
The leader of the Democratic Party of the Orange Party, Raila Odinga, during a former public service.
Raila went on to say that much of the money was at risk of being looted. He claimed that Kenya had reached the super league of corruption.
“Kenya has finally reached the Corruption Super League, where we play with long-time proven giants who are doomed to collapse. Remember gadgets never last, Kenya is at a breaking point. because of this problem, “Raila said.
The video, which was trending for much of the day, was shared by Kenyans who questioned the motives of the former opposition leader who remained agape about the Ksh 255 billion loan from the International Monetary Fund.
“The same Raila who questioned the huge borrowing has now joined the borrowers … Was he questioning the borrowing because he was worried about the impact on mwananchi or because his pockets didn’t were not met? ”
“Those who opposed loans are now experts on why we need loans
“If Baba had remained steadfast in his fight for social equality, corruption, etc., 2022 would be his own,” read a comment section online.
The debt crisis has been a source of concern among Kenyans and they have expressed their anger at the government’s borrowing frenzy. According to the 2021 fiscal policy statement, Kenya’s public debt stands at Ksh 7.06, which is equivalent to 65% of GDP.
The recent outcry came after the government borrowed 255 billion Ksh from the IMF. The Kenyans then drafted an online petition urging the international body to cancel the loan. Currently, more than 200,000 people have signed the petition.
Further away, #IMFStopLoaningKenya has been trending as Kenyans debate the economic crisis that could ease after President Uhuru Kenyatta revised curfew times and instituted lockdowns in five counties (Nairobi, Nakuru, Machakos, Kiambu and Kajiado) that ‘he qualified as red zones.
See the video: