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The civil society is pushing the government to rally the rest of the continent to form a borrower’s alliance, with the hope that this move would soften the interest rates levied by multilateral lenders.
The lobby bodies in the public finance space argue that negotiating loans as a bloc would ensure Kenya and the rest of the continent is treated fairly.
This, in the end, would help in the campaign to restructure the global financial architecture, as currently spearheaded by President William Ruto.
The civil society, while unveiling a campaign dubbed ‘Freedom from Debt’, detailed how the ballooning liabilities have shrunk public spending on social services such as health.
