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No More Grants But Investments – Global Economic Empire

The Debt Shall be Paid No Matter What… Borrowers must be told! Kenya is Cautioned…
Kenyan public debt is relatively high as compared to per capita income the country is making. Still the appetite for borrowing from Multinationals, Wealthy nations, and International and Regional Banks is not far from over. But where does the government invest all this borrowed money? Of course not in education. It is invested more in road-system and managing the public sector. Econometrics will tell how this system will be sustainable. But a debt of 1.5 or 3 trillion Kenya shillings is getting antagonism in the economy. We do not need financial experts to tell us about how economics work. It is just enough to realize the pressure on tax collector – KRA. It is sufficient to tell from the response of the President when the court ordered his governemnt to increase the salary of teachers with 50-60%. Antagonism is seen also in the response of the governemnt, there is no money to pay teachers the increment. Everybody in Kenya knows what is going on. It is not news that Kenya is heavily indebted. It does not require a geneous to tell that life for many Kenyans is getting intolerable. Despite the hard work of Kenyans only part of the population is benefitting from this economy. Similar experience is felt in Indonesia, South Korea, Malasya, and newly emerging economies. Where does the money go to? Who is benefitting from the international investment? There is something wrong with the system. The government system is politicised, job distributions are pegged on political interests other than the dictates of the economy.
Will the MNCs and Wealth Nations – G8 countries condon the African debts? This is out of imagination. Debt forgiveness is out of question. But how will Kenya pay the huge debt borrowed from MNCs and other rich countries? How will Kenya manage to pay off the debts and develop its own economy by the year 2030? Most of us may not survive to see what will happen but certainly chances are dim. Kenya has accumulated a lot of debt.
The more a country weakens its education system and fails to create more employment for the youth, the problem is great. The poor people living in Kenya must be the most upset lot. Borrowing has not stopped there. We need Standard Guage Railway, commuter train for the city of Nairobi, Super-Highway to link Thika and Nairobi, Nuclear Energy, and many other things that may not add more to the repayment of the debt. The moral duty is that the debt must be paid.
Democratically elected leaders are responding to the dictates of the world economy and yield to foreign “aid”. This is just a plutocracy that will see Kenyans living gloomy life. An elected person must have the common citizen at heart and make right decisions based on the interest of the common mwaninchi. It will not take too long before Kenyans start feeling the pinch of perpetuated corrupt system. It is sad. Multinationals and Investors will only benefit from corruption. Corrupt officials in Kenya are products of the global system. Plutocracy must reverse its approach. Corrupting the system shall end up in jackals and bad economy. Such system will only kill the civil society and cynics that may think the opposite. Kenya can learn more from Venezuela, Argentina, Bolivia, Guatamala and even Mexico. No jobs…no money. Too much exploitation. Too much mechanization of the economic system.
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About Peter Onyango

Dr. Peter Onyango O. is one of our main contributors. He is a senior law lecturer, a writer, a consultant, peace ambassador, and a researcher. He assists so many professionals, legal minds, and debaters with his skills and scholarly wealth! He supports children and village community as a way of giving back to community. He edits, proof reads, and publishes various articles for our page!

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