“I wish we lost the election to the ‘dynasty brothers’ Ruto’s economic advisor
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Ruto's economic advisor says he wished Kenya Kwanza lost the presidential election to the Azimio coalition
Ruto’s economic advisor says he wished Kenya Kwanza lost the presidential election to the Azimio coalition.
David Ndii, the chair of President William Ruto’s Council of Economic Advisors, expressed his wish that “we lost the election” so that Azimio could inherit their mess.
The economist claimed on Sunday that retired President Uhuru Kenyatta opted to “burn Forex Reserves,” and did nothing to address the debt nightmare
Ndii predicted difficult economic times for the nation in a string of tweets and answers on his official X account, advising Kenyans to prepare for the worst when loans mature.
He said the situation has been made worse with the shilling which is on a freefall against the dollar.
”If US rates don’t ease for markets to open for frontier economies… it’s a wing and a prayer. Over to you churchgoers,” he said.
On maturing debts, Ndii said Uhuru left a debt legacy nightmare that has forced him to think that it would have been better if Kenya Kwanza lost the elections.
Responding to @murigimuraya who suggested that Uhuru had managed to retain investor confidence after winning his second term, Ndii said it was a miracle that Kenya had not defaulted.
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”Uhuru’s debt legacy nightmare. A trillion domestic redemption in 2023. It’s a miracle we’ve not defaulted. Foreign redemptions double in 2024,” he said.
@murigimuraya had claimed that all was well until 2022 when ”unethical Kenyans voted in politicians who fought EACC for 5 yrs.”
”Now we have depreciated to KES 150 – 1 U$D,” he posted on the X platform admitting that Uhuru had weaponized the Ethics and Anti-Corruption Commission between 2013 and 2017 and borrowed more.
However, according to Ndii, Uhuru burned forex reserves to prop up both the shilling and interest rates artificially.
”Now we become the falls guys for biting the bullet. You don’t know how often I wish we lost the election to see the dynasty brothers wading in their mess,” he said.
Kenya’s debt level has reached record highs despite President Ruto’s vow to tame the country’s appetite for loans, treasury figures show.
Total public debt rose by a record 1.56 trillion shillings in the financial year ended June 30 to 10.1 trillion shillings, breaching a debt ceiling of 10 trillion shillings.
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