We must speak up on debt and sovereignty before it's too late

Treasury CS Henry Rotich during the launch of 2019-2022 economic survey at KICC. Picture taken on 25/4/19. [Beverlyne Musili,Standard]

I don’t hate debt per se. What I hate are dumb debts. A dumb debt is a loan you take out to go on vacation. Or to finance a wedding. You are an idiot if you take out such loans. Even worse, you are a bigger fool if you take out a loan that will push you to the edge of your borrowing limit, or drown your only immovable asset in red ink. These rules apply to natural and legal persons. But equally importantly – and perhaps more so – they apply to small, underdeveloped, states like Kenya. Lenders prey on weaklings like Kenya. China, now the world’s leading lending predator on weak countries like Kenya, is our existential threat.