As President Uhuru Kenya and Opposition leader Raila Odinga plan to pen a KSh 380 billion loan from China, it has emerged that a special team of MPs is in France for a debt management summit.
The Evening Post has learnt the Organisation for Economic Cooperation and Development (OECD) meeting has been convened in Paris and lawmakers set to be in attendance left the county on Saturday, April 20.
On Saturday, about five MPs, well vast with economic matters, left the country for a debt management meeting in Paris. Photo: Moses Kuria
Through a a statement on Facebook, Gatundu South MP Moses Kuria confirmed that he was among the high delegation representing Kenya in the important conference.
Kuria was flanked by Minority Leader John Mbadi , Paul Abuor (Rongo), Florence Bore (Kericho) and Gichuki Mugambi (Othaya).
"Looking forward to learn from OECD countries on how to balance between the demand for public debt, debt sustainability and generational equity, that is how to ensure the current generation does not endanger future generations with profligate borrowing.
At a time our public debt is at an all time high of KSh 5.8 trillion, at a time this year alone we are expected to pump in KSh 980 billion in debt servicing, this meeting could not have come at a better time," Kuria wrote.
Accompanying the statement were about 14 pictures of the MPs inside a plane's cabin. The photos showed the leaders in the VIP section.
Social media users who reacted to Kuria's post claimed that it was not sustainable for them to be aboard the classy section.
Prince Eric Jahonga Jnr who wrote on Facebook said the leaders ought to have boarded the economy class if they were geared towards helping the country solve its debt crisis.
"You mention servicing debt na uko business class mnaslay na pesa ya wankenya ndio italipa . Watu wa madeni mnafaa kukaa economy kiti ya nyuma.
Which is loosely translated as "You mention serving debt and yet you are having comfort in business class. Kenyans are the ones who will pay this debts. Indebted people should be traveling in rare seats of economy class," Jahonga wrote.
Others, however, were emphatic that solutions for Kenya's deepening debt crisis could not be achieved through such meetings.
You guys are wasting taxpayers money on this trips. We know Kenyan problems. Sit down and address them," a Facebook user identified as Hon Munyora Munyora reacted.
Here are other reactions:
Reactions: MPs @HonMoses_Kuria, @JohnMbadi fly to Paris for debt management meeting as Uhuru, @Raila head to China to borrow more billions pic.twitter.com/EE3Q4IQI9K— Muyela RobertoB (@MuyelaRobertob) April 21, 2019
In a separate story , KSh 380 billion loan set to be acquired from China will be used to finance constructions of Naivasha-Malaba SGR line.
Earlier, the government had borrow at least KSh 327 billion which was pumped into the now operational Nairobi-Mombasa line.
Another KSh 150 billion was also secured for the ongoing construction of Nairobi-Naivasha line.
Several economic pundits and even the International Monetary Fund (IMF) have raised a red flag and stated that the country's high appetite for loans may not be sustainable.
Previously, there was speculation that Kenya may lose its Mombasa Port to Beijing if it fails to service its loans as required.
This came to the fore after some leaked documents indicated that the port was used as a security when Kenya applied for the funding.
The documents were however, disowned by Auditor General Edward Ouko.