Kenya’s Sh1.2 trillion debt bill to be settled in the next 12 months is so deep that taxes alone can’t solve this financial mess. Indeed, when the National Treasury fell behind by two months recently, county bosses threatened to go to court. But will the National Treasury wriggle itself out of this arithmetic quagmire? In fact, in the next Financial Year, of Sh1.17 trillion debt to be repaid, the Treasury is expected to refinance about Sh630 billion. But perhaps the biggest problem is that most of the expensive loans are pumped into low-yielding projects that take too long to become viable.

Source: Standard Digital June 08, 2021 17:25 UTC