{"id":26491,"date":"2025-04-17T03:43:20","date_gmt":"2025-04-17T03:43:20","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/26491\/"},"modified":"2025-04-17T03:43:20","modified_gmt":"2025-04-17T03:43:20","slug":"we-will-not-default-in-loan-repayment","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/26491\/","title":{"rendered":"We will not default in loan repayment"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/59996442-c835-44fa-a8af-3d427d7bab1e.jpg\" class=\"ui-draggable ui-draggable-handle\" style=\"max-width: 100%;\"\/>National Treasury Cabinet Secretary John Mbadi\u00a0before the Parliament of Kenya to answer queries on the fate and the status of the disbursement of NG-CDF funds and the National Government Affirmative Action <a tabindex=\"-1\"\/>Fund (NGAAF) on April 16, 2025\/COURTESY.<\/p>\n<p>National Treasury Cabinet Secretary John Mbadi has taken a&#13;<br \/>\nswipe at Kiharu MP Ndindi Nyoro for claiming that Kenya is on the verge of&#13;<br \/>\ndefaulting on loan repayment.<\/p>\n<p>Speaking during Question Time in the National Assembly, the Treasury CS said&#13;<br \/>\nutterances by Nyoro are irresponsible as they could cause unnecessary panic.<\/p>\n<p>\u201cWe need to be a little cautious. I listened to one of us&#13;<br \/>\nargue that this country is likely to default on debt payment. That is an irresponsible statement; it can&#13;<br \/>\ncause panic and should not come from someone who chaired the Budget and&#13;<br \/>\nAppropriations Committee,\u201d he said.<\/p>\n<p>Mbadi acknowledged that the country is faced with challenges&#13;<br \/>\nbut maintained that Kenya does not have a debt sustainability problem.<\/p>\n<p>\u201cThe numbers are there, IMF, the Word Bank have the figures.&#13;<br \/>\nWe have been rated out there. The problem we have is about liquidity. Loans&#13;<br \/>\nwere taken and most of them are maturing between now and 2032,\u201d he explained.<\/p>\n<p>\u201cAfter between 2034 to 2048, there is no loan to pay. There is&#13;<br \/>\nno external loan to pay around that time, whether it is bilateral, commercial&#13;<br \/>\nor multilateral.\u201d<\/p>\n<p>He said it is the responsibility of the House and the&#13;<br \/>\nExecutive to ensure the country does not default in debt repayment.<\/p>\n<p>\u201cThere is no time we will default in loan repayment. Let nobody&#13;<br \/>\nscare people that Kenya is going to default,\u201d he maintained.<\/p>\n<p>\u201cLet me ask you. Have we failed to pay salaries? Have we&#13;<br \/>\nfailed to pay school capitation? Are we not meeting expenditure for security&#13;<br \/>\nand other matters?\u00a0Are we going to pay monies to our counties?\u201d<\/p>\n<p>On Tuesday, Nyoro raised the red flag, warning that the&#13;<br \/>\ncountry is in a debt crisis and could soon join Africa&#8217;s debt defaulters club.<\/p>\n<p>Speaking at the Institute of Public Finance annual budget&#13;<br \/>\nreview, the former Budget and Appropriations Committee Chair said the country\u2019s&#13;<br \/>\npublic debt\u2014currently estimated at Sh11 trillion\u2014is worrying.<\/p>\n<p>He warned that any attempts by the government to renegotiate&#13;<br \/>\nexisting debt could prove to be even more disastrous.<\/p>\n","protected":false},"excerpt":{"rendered":"National Treasury Cabinet Secretary John Mbadi\u00a0before the Parliament of Kenya to answer queries on the fate and the&hellip;\n","protected":false},"author":2,"featured_media":26492,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,16168,1700,474,16170,16171,16169,5517,5519,5520,5518,16,15],"class_list":{"0":"post-26491","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-default","10":"tag-economy","11":"tag-finance","12":"tag-john-mbadi","13":"tag-ndindi-nyoro","14":"tag-public-debt","15":"tag-star-news","16":"tag-star-news-kenya","17":"tag-the-star","18":"tag-the-star-newspaper","19":"tag-uk","20":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114351243517938876","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/26491","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=26491"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/26491\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/26492"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=26491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=26491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=26491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}