AHMEDNASIR blasts RUTO over the Ksh 240 billion Eurobond loan – Imagine Kenyans will repay Sh 600 billion

Wednesday, February 14, 2024 - Renowned Nairobi lawyer, Ahmednasir Abdullahi, has blasted President William Ruto‘s administration after it secured a Ksh 240 billion Eurobond loan.

In a social media post on Wednesday, Ahmednasir said former president Uhuru Kenyatta's administration secured a similar loan facility, but Kenyans have little to show for it after 10 years.

Ahmednasir explained that Kenyans will be forced to repay more than $4 billion (KSh 600 billion) in the next ten years.

He pointed out that the country will spend 85% of its taxes on repayment of the loan, which will hurt the country's development.

"H.E. UHURU's initially borrowed $ 2 billion EURO BOND about 10 years ago. No one knows what or how it was used for. At best, it was used for recurrent expenditure.

“At worst, the usual thievery of the native. For the time being, let us ignore the allegations that $ 1 billion was deposited in foreign bank accounts and never reached the city in the sun.

“Now, H.E. Ruto borrows another $ 2 billion to be repaid with higher interest 10 years down the road (kicking the can down the road).

“So, 10 years later, we will be out of pocket $4 billion and interest...surely where are we taking poor Kenya and her zombie natives? From this year, Kenya will spend 85% of its taxes on loan repayment...right time should I go back to Mandera?" Ahmednasir posed.


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