State abandons Sh9 trillion debt ceiling rule

nairobi city county
[Image source: African Arguments | Credit: Nina R.]


The Standard | by Dominic Omondi


Kenya is set to abandon the current Sh9 trillion legal ceiling of debt issuance and revert to one that is pegged on the gross domestic product (GDP).

This was revealed by the International Monetary Fund (IMF) in its first review of the extended arrangement under the Extended Fund Facility and Extended Credit Facility, a Sh256 billion credit facility programme…

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