Deputy President Rigathi Gachagua has admitted to the government having money troubles and not being able to pay salaries.
Speaking on Sunday in Mathira, the second-in-command said the financial problems are also affecting county governments.
The former MP, however, blamed the “handshake” government for the current financial crisis.
“It is true we are having challenges in paying salaries, giving money to governors. Because the handshake gov’t ripped this country, they borrowed money left right, and center. Because we are a responsible government, we have to pay this money,” he said.
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Gachagua noted that some of the loans matured last week forcing the government to settle them. He did, however, assure civil servants that they would receive their pay in the coming week.
“What we collected the last two weeks was sufficient to pay the loans. What we are collecting this week will pay salaries and other requirements,” he continued.
He defended his boss, President William Ruto, saying he inherited a dilapidated economy and is rebuilding from scratch.
“We are in a difficult situation, we are not the ones who borrowed the money but have to pay because it is owed by Kenya. William Ruto cannot run away from those debts even though he did not incur them,” he said.
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Chairperson of President Ruto’s Council of Economic Advisors, David Ndii, said loans have been maturing in billions hence the financial challenge.
“I am talking about weekly maturities of domestic debt held by your banks and pension funds (80% of debt service) which would you rather, a hair cut on your bank deposits or a delayed payments?” he posed on his twitter page.
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