Wiper leader Kalonzo Musyoka has cautioned the Jubilee administration against excessive external borrowing.
Kalonzo says the rate at which the State is accumulating external debt is alarming.
Speaking to journalists at the Southern Eastern of Kenya University (SEKU) in Kitui on Tuesday, Kalonzo warned that the country risks falling into economic crisis should the government continue piling external public debt.
He said the government is excessively borrowing to allegedly fund 'ghost' projects.
"We have not seen much projects which the government has initiated through huge external borrowing, it's time they realized that they are exposing Kenyans to economic crisis," Kalonzo said.
Kalonzo claimed much of the borrowed money has been ending up in some people's pockets at the expense of funding projects.
The former Vice President said the government has never been accountable to Sh202 billion Euro bond it borrowed in 2016.
He said Kenyans must be alert or else they fall into economic debt.
Kalonzo said the borrowed money cannot be accounted for so long as corruption remains an issue in the country.
The government maintains that it's external debt is within the recommended international standards and there is nothing to worry about.
The government has been under criticism with a section of opposition politician’s accusing it of excessive borrowing.
The opposition politicians allege that much of the money being borrowed ends up in some individuals' pockets.
The Jubilee administration has been under criticism on how Sh202 Billion Eurobond was utilized.
Last week, International Monetary Fund (IMF) officials raised concerns over Kenyans runaway debt burden.
The officials warned that the country risks losing investors if the external debt is not contained.
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