On Wednesday, November 6, the Senate voted to raise the national debt ceiling to Ksh9 trillion in a move to allow the government to borrow more.
Contrary to the expectations of many Kenyans, majority of the senators endorsed the National Treasury’s bid to raise the already skyrocketing debt.
30 Senators voted in support of the motion against seven members after a heated debate.
The passage, which came barely a fortnight after the National Assembly gave its nod, now gives the National Treasury’s notice to amend the Public Finance Management (National Debt) (Regulations), 2019.
The vote meant that the National Treasury is now free to borrow up to Ksh2.5 trillion, in addition to the current debt of Ksh6.5 trillion.
Despite the overwhelming support the approval received, a section of lawmakers, however, rejected the bid, saying the move would lead to an economic meltdown in the country.
“Pursuant to Standing Order 210 (4) and having examined all laws, the committee recommends that the House approves the said statutory instruments,” West Pokot Senator Samuel Pogishio communicated while moving the motion.
It has no emerged that Bungoma Senator Moses Wetangula, Mutula Kilonzo (Makueni), Aaron Cheruiyot (Kericho), Samson Cherargei (Nandi), Millicent Omanga (nominated) and Victor Prengei (nominated) opposed the motion before a vote was taken.
Here is the full alleged list of the seven Senators who voted against the 9 Trillion debt ceiling according to a popular KTN journalist Odeo Sirari;
This are the 7 senators who voted against the 9 Trillion debt ceiling.
Mutula Kilonzo Jr.
Moses Wetangula
Boniface Kabaka
Enock Wambua
Samson Cherargei
Aaron Cheruiyot
Mithika Linturi
— Odeo Sirari (@OdeoSirari) November 6, 2019
Mutula, who co-chaired the joint committee, lamented that the first amendment done in the National Assembly to allow the Treasury to raise the ceiling from Sh1.2 trillion to Sh2.3 trillion was never sent to the Senate for input.
“In 2015, after they sought amendments which were approved by the National Assembly without recourse to the Senate, they removed the numerical ceiling of Sh2.5 trillion to 50 per cent of GDP. That is where the theatre of the absurd started. History is going to judge us,” lamented Mutula.
Mutula kIlonzo Jnr, Enock Wambua, Mithika Linturi, Boniface Kabaka, Samson Cherargei and Aaron Cheruiyot are the only senators who opposed increase of the country's debt ceiling to Sh9 trlln
Kenyans, now you know the seven senators care abt the future generations of this country— Jean Mutua (@JeSuisMutua) November 7, 2019
Senator Cheruiyot, on his part, cautioned the country’s debt level was already unmanageable and wondered how the debt will be serviced in the wake of dwindling revenue collection.
“How can I be forced to approve this debt ceiling when I can’t even see a single project implemented in my ward using this borrowed money?” he posed.
Nandi Senator Cherargei, a close ally of DP Ruto, opined that the country’s economy was not doing well and urged the House and Kenyans to reject the “treasonous and slippery borrowing.”
Today Senate voted to raise the national debt ceiling to KShs 9 trillion. Now the National treasury must work with speed to restructure our debt and retire the expensive commercial loans for cheaper concessional loans from multilateral agencies.
— KIPCHUMBA MURKOMEN, E.G.H (@kipmurkomen) November 6, 2019
However, senators who supported the motion led by Majority Leader Kipchumba Murkomen and his Minority counterpart James Orengo stated that raising the debt ceiling will help the government to restructure and redeem itself in the wake of a looming budget crisis.
“Let’s pass this regulation so that we can save our country from grinding to a halt for lack of money to implement projects,” Murkomen communicated.