The difficult period for the Kenyan economy may have reached its climax and now begin its downward process toward stability and relief for its people. President William Ruto announced yesterday that the debt crisis has been resolved, after eight months of working to put the state's shaky accounts back on track, in a country that continues to have great potential for growth. Ruto urged citizens to be optimistic,
noting that there is an extreme need to mitigate the debt ceiling, stressing that his government is committed to reducing borrowing.
"I have had several meetings with the World Bank, the International Monetary Fund, and others from whom we have borrowed money, but I want to confirm to the Kenyan people that we have stabilized the economy and now we can no longer be threatened by debt. I cannot allow our country to continue borrowing left and right," Ruto said on the sidelines of a Sunday service in Taita-Taveta County.
Ruto also explained the recipe for no more borrowing, which is to make everyone pay taxes. "I will be at the forefront of enforcing this," Ruto said, "We will try to collect taxes so that we can run the country with our own resources. we have to do this because this is a sustainable way of taking Kenya into the future, so that we can make our plans strategic by knowing where to get the money.  Kenya's public debt, which has crossed the $65 billion mark, remains addressable, despite the global shocks that are disrupting economies around the world.