The MP raised his suspicions in the Treasury for borrowing of loans with high interest rates, saying that they opted for commercial loans with high interest rates with no conditions which was easily mismanaged and looted because they didn't want to do the right thing.
Moses Kuria exposes questionable deals at the treasury, announces radical move and shames Uhuru’s CS [Video]
Gatundu South MP, Moses Kuria has unearthed questionable dealings at the National Treasury, revealing damning details of how Kenyans are expolited and overburdened by questionable deals.
According to Kuria,senior government officials who signed for the loans avoided cheap loans from multilateral organizations because they were tied down with many conditions and opted for commercial loans which were more expensive and less restrictive giving them freedom to (mis)spend.
"How can you have one loan paying 9 per cent and another 0.7 per cent, even you as an individual, it shows that some things that have been happening in that treasury have been suspicious and leave a lot to be desired,
"You find institutions like The World Bank, Kuwait Fund and Africa Development Bank pleading with countries to take their loans whose interest rate was 1 per cent or 2 per cent maximum. But someone leaves that money and takes a loan that we pay 9 per cent, how can you explain that?" Kuria asked reporters.
He said that over the years, the previous treasury regimes have taken us to more of commercial borrowing than multilateral borrowing.
He stated that they had agreed to work together to taking back debts to almost 100 percent constitutionality to stop the high interest repayment.
The Gatundu MP revealed that together with the budget committee and the treasury, they had resolved to ensure that they achieve a balanced budget like during Kibaki’s and Nyachae’s time.
He also declared that they would mop all the money that was sitting idle in the Ministries and Parastatals. So far he said that the National treasury had mopped up 87 billion of money sitting with bodies like CAK which was required in funding agendas like the big four.
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