Kenya to scrap one-year debt instrument

The paper said 18.6% of the country's domestic debt will mature by June 2025, mainly due to short-term debt falling due.
Kenya will stop issuing a one-year Treasury bill as part of a strategy to help reduce the amount of short-term debt and will instead favour longer-dated maturities, according to the National Treasury.
The East African country will now only be issuing two Treasury bills notes, the 91-, and 182-day instruments.
More To Read
- MPs reject Treasury circular on mandatory e-GPS use
- Treasury reports fastest tax growth in two years amid July protests
- Treasury proposes Sh4 billion fund to revamp prison farms, industries
- Blow to governors as Treasury advances integrated revenue collection system
- Treasury launches e-procurement system with price caps to curb inflated spending
- Treasury, Senate threaten funding cuts over counties’ financial mismanagement
"The target is to gradually reduce the stock of Treasury bills while lengthening debt maturity and issuance of medium to long term debt securities," the Treasury said in a debt management strategy paper published on Monday.
The paper said 18.6% of the country's domestic debt will mature by June 2025, mainly due to short-term debt falling due.
Kenya is struggling with heavy debt and has been scrambling for new financing lines after deadly protests last year forced it to scrap planned tax hikes.
Other Topics To Read
Top Stories Today