Elections in Kenya, William Ruto promises debt reduction to China

TEMPO.CO, jakarta – Vice President Kenya William Ruto confirmed he would publish state treaties with China and deport Chinese nationals working illegally in China if elected in the Aug. 9 election. Ruto is currently running for the Kenyan presidential elections.

Kenya is currently being hit by a bunch fault and the skyrocketing cost of living. Kenya’s 2022/2023 budget of 3.3 trillion shillings (416 trillion rupees) equates to a deficit of 6.2 percent of GDP. Meanwhile, Kenya’s debt to China is around USD 8 billion (rupees 119 trillion).

Dancers from dance group Utamaduni Ngoma perform a play ‘African King’s Journey to Christmas’ in Nairobi, Kenya, December 19, 2019. REUTERS/Njeri Mwangi

Ruto pledged to cut government debt, which Kenyan President Uhuru Kenyatta is using to build massive infrastructure. There are a number of contracts that are not disclosed to the public and a number of organizations in Kenya have registered with the courts to disclose the agreements made.

According to Ruto, Ethiopia has restructured its debt to China, and Zambia is also making such efforts. But Kenya will not do that under its future government.

“Kenya is capable of managing its debt,” said Ruto, who clarified that if he was elected Kenya’s number one, he had no intention of restructuring Kenya’s debt.

Ruto, 55, has described Kenya’s August 9 elections as a battle between criminals and dynasties. The comments were meant to mock Raila Odinga and Kenyatta, who are the sons of Kenya’s first Vice President and the current President of Kenya.

Ruto admitted to selling roadside chickens before entering politics. Ruto’s campaign is symbolized as a wheelbarrow because he plans to disburse loans to MSME actors and Womaninstead of building new toll roads or railways.

Source; Reuters

Also read: Jokowi signs PP Creative Economy, intellectual property can be debt security with banks

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