The sports category has moved to a new website.
ADVERTISEMENT

Uhuru starts campaign to have foreign debts cancelled due to Covid19 crisis

Kenya's public debt currently stands at Sh5.1 trillion

President Uhuru Kenyatta starts campaign to have foreign debts owed by African nations cancelled due to Covid19 crisis

President Uhuru Kenyatta on Thursday embarked on an ambitious campaign where he called on foreign countries to cancel the debt owed to them by African governments.

President Kenyatta made the proposal at State House, Nairobi, during a virtual conference of European and African leaders on the proposed establishment of the Africa-Mediterranean-Europe (AME) Foundation.

He added that the move would go a long way in facilitating the relationship between the European Union and African nations such as Kenya.

Most EU member countries are developed countries that have extended huge amounts of foreign loans to the African countries.

ADVERTISEMENT

The setting up of AME Foundation as a platform to enhance development discourse and interactions between Africa, the Mediterranean and Europe is being championed by the Former President of the European Commission Jean-Claude Juncker.

President Kenyatta's administration has been criticized over its appetite for loans which has seen Kenya's public debt rise to over Sh5 trillion up from Sh1.8 trillion when the current President took over from Mwai Kibaki.

Much of the public debt is owed to China while the rest comprises of commercial and guaranteed debt.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Sh980 million scholarships awarded to 22 vulnerable 2023 KCSE top students

Sh980 million scholarships awarded to 22 vulnerable 2023 KCSE top students

Why Obama slipped away before Ruto & Biden's toast at White House State Dinner

Why Obama slipped away before Ruto & Biden's toast at White House State Dinner

Citizen TV's Ayub Abdikadir puts Biden on the hot seat with tough questions [Video]

Citizen TV's Ayub Abdikadir puts Biden on the hot seat with tough questions [Video]

Ruto lands Sh477 billion deal for new Usahihi Expressway with 6 lanes

Ruto lands Sh477 billion deal for new Usahihi Expressway with 6 lanes

Why Cheruiyot Kirui's body could be left on Mt. Everest after tragic adventure

Why Cheruiyot Kirui's body could be left on Mt. Everest after tragic adventure

Last moments of Cheruiyot Kirui who has died on Mt Everest [Photos]

Last moments of Cheruiyot Kirui who has died on Mt Everest [Photos]

How Biden received Ruto at White House & what they discussed [Photos]

How Biden received Ruto at White House & what they discussed [Photos]

CCTV camera records lion entering Rongai residence & capturing prey [Video]

CCTV camera records lion entering Rongai residence & capturing prey [Video]

Ruto apologises to daughter in a moment of reflection during U.S state visit

Ruto apologises to daughter in a moment of reflection during U.S state visit

ADVERTISEMENT