Kenya’s public debt sprints to Ksh12.3 trillion in three years under Ruto as Treasury’s fiscal indiscipline comes under serious scrutiny
Dr Nyakang’o also criticised the use of Article 223 of the Constitution to finance previously rejected expenditures, terming it a “back door” that undermines fiscal discipline.
Risky borrower: Kenya sprucing up image in financial markets as its public debt soars to $92.5 billion
To institutionalise the process, the Treasury will establish a government-resourced Credit Rating Committee to coordinate Kenya’s approach, supported by partners including UNDP, the gvernment of Japan, AfriCatalyst and the African Peer Review Mechanism (APRM).
