An archive video of Orange Democratic Party (ODM) leader Raila Odinga lecturing the Jubilee government over its appetite for loans and the debt crisis facing the country has been doing rounds in social media.
In the video, Raila questioned the intent of the ruling party to borrow over Ksh86 billion from foreign institutions to pay a ballooning debt instead of focusing on developmental projects.
"Jubilee is syndicating Ksh86 billion to international bank loans, not for development but to curb the holes that their looting has created," Raila stated.
Raila went on to claim that a large part of the money was at risk of being looted. He claimed that Kenya had made it to the corruption super league.
"Kenya has finally made it to the corruption super league, where we are playing with long-tested giants who are destined for collapse. Remember gimmicks never last, Kenya is at a breaking point due to this issue, " Raila had stated.
The video, which has been trending for the better part of the day, was shared by Kenyans who questioned the motive of the former opposition leader who has stayed tight-lipped about the Ksh255 billion International Monetary Funds loan.
"The same Raila who was questioning huge borrowing has now joined the borrowers... Was he questioning borrowing because he was concerned about the impact on mwananchi or because his pockets were not attended to?"
"Those who opposed the loans are now experts on why we need loans
"Had Baba remained steadfast in his fight for social equality, corruption, etc 2022 would be his for taking," read a section of the comments online.
The debt crisis has been a cause for concern among Kenyans and who have expressed their anger at the government's borrowing spree. According to the 2021 Budget Policy Statement, Kenya's public debt stands at Ksh7.06 which is equivalent to 65 percent of GDP.
The recent uproar came after the government borrowed Ksh255 billion from IMF. Kenyans then drafted a petition online urging the international body to cancel the loan. Currently, over 200,000 people have signed the petition.
Further, #IMFStopLoaningKenya has been trending as Kenyans debate about the crisis within the economy which might dwindle after President Uhuru Kenyatta revised curfew hours and instituted a lockdown among five counties(Nairobi, Nakuru, Machakos, Kiambu, and Kajiado) which he termed as red zones.
Watch the video:
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