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WHO IS NEXT AFTER THE GIANT KENYA?

George Michael Uledi.
Kyela,Mbeya.
April 11,2023.

Some of the East Community members are already in the debt trap including the giant Kenya which its GDP is toping the the region!A very sad story for the EAC since its re-formation!

Kenya is currently said using most of it’s revenue to service external loans finally ending up not paying public Servants and MP’s since March 2023.Over borrowing by Kenyatta’s government is said to be the main source of the current problem.

Transport Cabinet Secretary of Kenya Hon. Kipochumba Murkomen confese the matter over this weekend.Mr Kipochumba is accusing the Kenyatta’s administration for plunging Kenya into a debt crisis through arbitrary borrowing while misusing the borrowed funds!

“..Kenya is not broke,we’re paying debts..”

The Tanzania Countroller and Auditor General report of 2021/2022 should be taken as caution by the current government of Tanzania that one day might find itself into the same trap as it’s fellow members of the EAC Kenya and Uganda.

The recently CAG of 2021/2022 report indicates the misuse of the billions of the Covid-19 funds,a loan secured under the rapid credit facility model in September,2022.The Country secured nearly Tsh 1.291 trilion loan to recover it’s economy after COVID -19.

The 2021/2022 CAG report also shows the misuse of money borrowed for the implementation of it’s flagship development projects of SGR and Electricity Power project mostly known as Nyerere- Rufiji Power Project expected to produce 2000+ megawatts.

On May,2022 Sri- Lanka government officially defaulted on its debts after being unable to repay.The borrowed money by the Sri lanka’s government was mostly misused by the then regime!

The Economic Policy Research Centre Paper;Debt vs Service Delivery:Challanges for Uganda in 2023 caution Uganda regime wether would be able to balance the two! Recently report of March,2023 shows some of the CIVIL Servants in UPDF wing went unpaid Salary for MARCH ,2023.

Tanzania should take lessons from Kampala and Nairobi by making sure that all borrowed money (loans) are properly managed and injected in strategic development projects as per plans!The current CAG reports of 2020/2021 and 2021/2022 ring the bell that the Country may also find itself where Kenya and Uganda are in.

Diplomacy