debt burden Stories

Among the worst-hit state departments is the National Youth Service under the State Department of Public Service, which owes Sh14.27 billion.

Treasury Cabinet Secretary John Mbadi revealed that these unutilized funds continue to accrue commitment and interest fees.

Treasury CS John Mbadi distanced his office from responsibility, saying individual accounting officers should explain why payments were processed manu...

Mbadi provided a breakdown of the repayment obligations, attributing the looming financial pressure to Eurobond and syndicated loans.

In 2012, concessional loans sent to Africa stood at 28 per cent, an indication that donors are increasingly resorting to lending instead of donating.

The sharp rise in the cost of loans is attributed to the shift from concessional financing to more expensive and short-term commercial debt.