Busia Senator and presidential hopeful Okiya Omtatah has disclosed that the Central Bank of Kenya supports his petition concerning odious debt.
Odious debt is a legal principle stating that a government is not required to repay debts taken on by a former, often authoritarian regime if those debts were acquired without the approval of the people and did not serve their interests.
On Wednesday, June 4, the senator announced that the Central Bank of Kenya had formally endorsed his petition through court documents, highlighting significant concerns about illegal borrowing, mismanagement of debt, and misuse of public funds raised in the petition.
“The Central Bank of Kenya (CBK) has officially supported our petition on ODIOUS DEBT. In their court filings, CBK acknowledges that the petition raises important constitutional issues related to illegal borrowing, debt mismanagement, and abuse of public finances,” Omtatah said.
