Book warns of looming crisis over public debt - Daily Nation
In Summary
  • “Capital Flows, External Debt Accumulation and Financial Crises in Africa” by Godfrey Waweru blames what it sees as Kenya’s looming debt crisis on a series of costly projects commissioned by State for record-high repayments.
  • Most of the resources from the debt, it claims, are never used in productive activities and are actually looted.
  • The book cites Kenya’s dalliance with China, saying it could be saddling Kenya with huge loans for mega infrastructure projects that it says are mainly aimed at profiteering and promoting Chinese exports.
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In Summary
  • “Capital Flows, External Debt Accumulation and Financial Crises in Africa” by Godfrey Waweru blames what it sees as Kenya’s looming debt crisis on a series of costly projects commissioned by State for record-high repayments.
  • Most of the resources from the debt, it claims, are never used in productive activities and are actually looted.
  • The book cites Kenya’s dalliance with China, saying it could be saddling Kenya with huge loans for mega infrastructure projects that it says are mainly aimed at profiteering and promoting Chinese exports.
ADVERTISEMENT<= _sf_async_config || {}; /** CONFIGURATION START **/ _sf_async_config.uid = 63208; // ACCOUNT NUMBER _sf_async_config.domain = 'nation.co.ke'; // DOMAIN _sf_async_config.flickerControl = false; _sf_async_config.useCanonical = false; _sf_async_config.useCanonicalDomain = false; /** CONFIGURATION END **/ var _sf_startpt = (new Date()).getTime();
In Summary
  • “Capital Flows, External Debt Accumulation and Financial Crises in Africa” by Godfrey Waweru blames what it sees as Kenya’s looming debt crisis on a series of costly projects commissioned by State for record-high repayments.
  • Most of the resources from the debt, it claims, are never used in productive activities and are actually looted.
  • The book cites Kenya’s dalliance with China, saying it could be saddling Kenya with huge loans for mega infrastructure projects that it says are mainly aimed at profiteering and promoting Chinese exports.
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