Borrowed money is not spent well and debt burden grows
The government is continuously piling debt but what is more worrying is when this debt is not used to stimulate production and economic growth. Instead, it is being stolen. With a rife corrupt environment, these borrowed sums are bound to attract a lot of fear and speculation. It is hard for any government to survive without debt, not unless the population is small and there are enough natural resources for everyone, which can’t be the case. Properly utilised debts have previously contributed to the growth and development of the economy if and when used properly. I admit that the Chinese have their shortcomings but when it comes to the infrastructure development they have funded, they deserve a pat on the back. The debts we’ve borrowed from them have helped. But caution must be taken not to implode a nation while borrowing.
HARRISON IKUNDA Nairobi