{"id":139695,"date":"2025-04-16T21:13:05","date_gmt":"2025-04-16T21:13:05","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/mbadi-we-will-not-default-in-loan-repayment"},"modified":"2025-05-08T05:55:43","modified_gmt":"2025-05-08T05:55:43","slug":"mbadi-we-will-not-default-in-loan-repayment","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/mbadi-we-will-not-default-in-loan-repayment","title":{"rendered":"Mbadi: We will not default in loan repayment"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Kenya. <\/strong><\/span>National Treasury Cabinet Secretary John Mbadi has taken a swipe at Kiharu MP Ndindi Nyoro for claiming that Kenya is on the verge of defaulting on loan repayment.<\/p>\n<p>Speaking during Question Time in the National Assembly, the Treasury CS said utterances by Nyoro are irresponsible as they could cause unnecessary panic.<\/p>\n<p>\u201cWe need to be a little cautious. I listened to one of us argue that this country is likely to default on debt payment.<\/p>\n<p>That is an irresponsible statement; it can cause panic and should not come from someone who chaired the Budget and Appropriations Committee,\u201d he said.<\/p>\n<p>Mbadi acknowledged that the country is faced with challenges but maintained that Kenya does not have a debt sustainability problem. \u201cThe numbers are there, IMF, the Word Bank have the figures.<\/p>\n<p>We have been rated out there. The problem we have is about liquidity. Loans were taken and most of them are maturing between now and 2032,\u201d he explained.<\/p>\n<p>\u201cAfter between 2034 to 2048, there is no loan to pay. There is no external loan to pay around that time, whether it is bilateral, commercial or multilateral.<\/p>\n<p>\u201d He said it is the responsibility of the House and the Executive to ensure the country does not default in debt repayment.<\/p>\n<p>\u201cThere is no time we will default in loan repayment. Let nobody scare people that Kenya is going to default,\u201d he maintained. \u201cLet me ask you.<\/p>\n<p>Have we failed to pay salaries? Have we failed to pay school capitation? Are we not meeting expenditure for security and other matters? Are we going to pay monies to our counties?\u201d On Tuesday, Nyoro raised the red flag, warning that the country is in a debt crisis and could soon join Africa&#8217;s debt defaulters club.<\/p>\n<p>Speaking at the Institute of Public Finance annual budget review, the former Budget and Appropriations Committee Chair said the country\u2019s public debt\u2014currently estimated at Sh11 trillion\u2014is worrying. He warned that any attempts by the government to renegotiate existing debt could prove to be even more disastrous.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Kenya<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Kenya. National Treasury Cabinet Secretary John Mbadi has taken a swipe at Kiharu MP Ndindi Nyoro for claiming that Kenya is on the verge of defaulting on loan repayment. Speaking during Question Time in the National Assembly, the Treasury CS said utterances by Nyoro are irresponsible as they could cause unnecessary panic. \u201cWe [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":139694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[544],"class_list":["post-139695","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-kenya"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mbadi: We will not default in loan repayment - kenya<\/title>\n<meta name=\"description\" content=\"National Treasury Cabinet Secretary John Mbadi has taken a swipe at Kiharu MP Ndindi Nyoro for claiming that Kenya is on ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/mbadi-we-will-not-default-in-loan-repayment\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mbadi: We will not default in loan repayment\" \/>\n<meta property=\"og:description\" content=\"National Treasury Cabinet Secretary John Mbadi has taken a swipe at Kiharu MP Ndindi Nyoro for claiming that Kenya is on ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/mbadi-we-will-not-default-in-loan-repayment\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-16T21:13:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-08T05:55:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2025\/04\/sm_1744823673.891379.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"496\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mbadi-we-will-not-default-in-loan-repayment#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mbadi-we-will-not-default-in-loan-repayment\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mbadi: We will not default in loan repayment\",\"datePublished\":\"2025-04-16T21:13:05+00:00\",\"dateModified\":\"2025-05-08T05:55:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mbadi-we-will-not-default-in-loan-repayment\"},\"wordCount\":357,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mbadi-we-will-not-default-in-loan-repayment#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2025\/04\/sm_1744823673.891379.jpg\",\"keywords\":[\"Kenya\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/mbadi-we-will-not-default-in-loan-repayment#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mbadi-we-will-not-default-in-loan-repayment\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mbadi-we-will-not-default-in-loan-repayment\",\"name\":\"Mbadi: We will not default in loan repayment - 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