Over 20 Dead What’s Fueling the Deadly Unrest in Kenya?
Over 20 Dead: What’s Fueling the Deadly Unrest in Kenya?
Kenya, known as Africa’s fastest-growing economy, is facing a severe financial crisis. This situation is not unique to Kenya; many African countries are spending more money on paying interest than on essential services like health and education.
The immediate cause of the violent protests in Kenya’s capital is a series of proposed tax hikes. These new taxes would mean that ordinary Kenyans have to pay more money to the government. However, the deeper issue lies in the massive debt that the Kenyan government owes to its creditors.
Kenya boasts a rapidly growing economy and a bustling business environment. Despite this, the government is struggling to avoid defaulting on its debts. According to a recent report by the United Nations Conference on Trade and Development, Kenya’s public debt—both domestic and foreign—has reached a staggering $80 billion. This debt amounts to nearly 75% of the country’s total economic output. Just the interest payments on this debt consume 27% of the government’s revenue.
