Once the crisis has passed, the public debt must be reduced sharply. However, history teaches us that without the restoration of the banks to health and without the resumption of credit flows, the recession will be more drawn out and the recovery slower, despite the exceptional expansion of budget deficits.
•  Third, poor Kenyans are in fact saving, but they are choosing to hold most of that savings in informal financial devices e.g. rotating group saving and lending.