President Uhuru Kenyatta should suspend plans to negotiate for more foreign loans and focus on servicing the existing ones, an MP has said.
Nambale MP John Bunyasi on Friday said Kenyans cannot shoulder more loans burden.
He said a large fraction of revenue the government is collecting locally is being transferred abroad to repay loans the Jubilee government secured since 2013.
“Almost 60 per cent of our revenue goes to servicing debts,” Bunyasi said. He spoke at Lupida Secondary School when he presided over a ceremony in which he gave out CDF cheques to selected secondary and primary schools to develop classrooms, laboratories and latrines.
“We are heavily indebted and what the top leadership should do is suspend any plans to secure more loans and reduce spending.”
The lawmaker spoke two weeks after Uhuru and ODM leader Raila Odinga jetted out to China seeking to secure a Sh368 billion loan for the extension of the SGR to Kisumu. They failed to secure the loan.
Uhuru in October last year told CNN that Chinese loans to Kenya do not bother him.
