National Treasury CS Ukur Yatani. Treasury however says Kenya’s existing stock of external debt has forced the government to borrow more from the domestic market. Kenya’s overall debt redemption and interest payments for the next financial year stands at Sh1.1 trillion, representing 88 per cent of the Sh1.3 trillion consolidated fund services. Interest payments to domestic lenders account for a huge chunk of the stock of debt at Sh421 billion for the 2021/2022 financial year. The latest debt figures come barely weeks after MPs vowed to block any increase to the debt ceiling.

Source: Standard Digital May 05, 2021 04:00 UTC