Nairobi, Nov. 27 -- Kenya's President William Ruto doesn't like debt. He just wants the government to have enough money.

Earlier in November 11, he told a stakeholder's workshop on pensions in Nairobi that the government will not be borrowing any money at a rate of more than 10 percent from local markets. This drew sharp criticism from money market players who trade in treasury Bonds, who alleged that the government was discouraging lending. Governments borrow locally through treasury Bonds.

"I promise you I will not be the president that will continue the journey of taking our country into debt," President Ruto said.

"It is a difficult choice but I don't see an option out. We are going to rationalise the budget and look at what else w...