SAKWA BUNYASI BILL ON PUBLIC DEBT SAYS IT IS A NECESSARY EVIL

By Peter Amunga.

Sakwa Bunyasi is the MP for Nambale in Busia. He has worked for Breton institutions including the world bank before joining Politics and being elected MP on the ANC party ticket that is led by Musalia Mudavadi. Last year he sponsored a bill in parliament that seek to get proper structures and legislation for govt borrowing.

In the Bill, Sakwa Bunyasi declares that Public debt is not all bad but it must be controlled along the following lines:

  1. It must be sustainable and not overburden the country. Ideally at anytime it should be about 50% of the GDP.
  2. The cost for such debt should be the best we get. We must look at cheaper concessional debt that is not only cheap but long term in repayment. Let’s avoid expensive short term commercial loans.
  3. Public debt is public money and must be utilised strictly and wholly for the benefits of the public and fully for the projects it is meant for.
  4. Let’s ensure all debt we get in does not compromise our sovereignty by mortgaging key public assets.

Published by MWALIMU Amunga Akhanyalabandu

Passionate about Advocacy on the REAWAKENING teachers in Kenya and reporting on the MULEMBE Nation. Having worked at the Kenya National Union OF TEACHERS in the advocacy department, I will be able to detail and explain about the welfare of teachers and their point of view on socio economic and political matters. Luhyia are the 2nd most populous ethnic group in Kenya. They are blessed with great land, topography, climate, resources and human Resource. We are also keen on Luhya Renaissance is about making the Mulembe People aware of their blessings, appreciating those blessings, defending them and putting them to proper use for the current and future generations.

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