Former Safina Party Presidential aspirant Jimi Wanjigi has weighed in on the financial crisis.
He said President William Ruto has a choice to increase taxes and audience debt.
He, however, said the country has reached the threshold of collection of taxes.
Speaking on Tuesday at Spice FM, Wanjigi said that debt default could be an option that Kenya can explore to revive the economy.
"There is the option of debt default, we look at it like it is such a bad thing. Looking at many countries in America is like filling chapter 11, bankruptcy and dealing with the consequences," he said.
"Many times you find a lot of those companies recover. Maybe we should not look at debt default as an entirely negative thing."
Wanjigi said some of the advantages of debt default include saving the money that could be channelled to repaying the debt.
He said in the process of defaulting, Kenya can defend itself by negotiating new terms under the default.
The former presidential aspirant said that Kenya needs to explain that they are willing to pay after reviving the economy.
"If it goes that way, you now have relief of three years but it comes with a cost, the currency drops and inflation increases but it is called a bitter pain before relief," he said.
Wanjigi said that from that savings, the country needs to strategise and make sure the funds reach Kenyans.
He said the savings from default will save the economy in three years.
On Sunday, President William Ruto said that Kenya's gross public debt has hit the Sh8.8 trillion mark.
He said at the end of March, it had hit Sh8.8 trillion.
Ruto revealed that the International Monetary Fund wanted Kenya to borrow more funds.
"International Monetary Fund does not run the government, I do. The IMF does not make decisions for Kenya, I do. Our public debt stands at Sh8.8 trillion They wanted us to borrow more, but I said No," he said.
The President pledged that he will ensure that the debts will be paid.
"There is no country that can tax itself into prosperity. That is correct. But, you can not accumulate debt into bankruptcy as an option," Ruto said.
Last month, Treasury data revealed that Ruto’s administration has borrowed Sh17.4 billion more than his predecessor in its first six months in office, upending the plan to go slow on debt.
It also showed that the new administration tapped loans worth Sh452 billion in the six months to March, which is more than the Sh434.6 billion that its predecessor borrowed in the same period a year earlier.
