Nairobi, April 11 -- The government has committed two cardinal sins when it comes to financial markets. First, you don't signal a fiscal disorder. Doing so invites a bloodbath.

Deputy President Rigathi Gachagua has repeatedly used political podiums to convey disorder in public finances. The Treasury Cabinet Secretary has also done the same in some fora.

When it comes to weak fiscal trajectory, the Government ought to maintain a policy of ambiguity, that is, neither deny nor confirm. This then removes any overhang in the market and leaves the market in a pricing dilemma, to the advantage of the Treasury.

However, assuming an explicit posture is akin to handing the market powder keg.

Secondly, you don't walk back on your fiscal restorat...