Kenya’s external debt Stories

The latest figures place the debt at 63 per cent of the country’s Gross Domestic Product (GDP), well above the recommended ceiling of 55 per cent.

External debt during the same period rose marginally by Sh70 billion to Sh5.23 trillion.

Mbadi highlighted that the ongoing fiscal consolidation strategy aims to boost revenue while curbing excessive spending.

China received more in debt payments than multilateral lenders, including the World Bank and the African Development Bank.