Growing concerns over Kenya’s soaring debt

The National Treasury is preparing to present its request to Parliament to increase Kenya's debt ceiling above $82.3bn. The Nation has learnt that the request will be presented to the House before the end of June for it to be processed alongside the new Budget since it will be impossible to fund the new Budget within the current borrowing limit. This comes as numerous Kenyans last week expressed anger over the latest $2.3bn IMF loan, urging it to cancel any additional loans. Kenya's public debt has risen sharply over the past year, largely due to the year Covid-19 pandemic.

Full report in The Nation