kenya public debt,Presidential Taskforce on Forensic Audit of Public Debt,public debt,taskfornce on public debt Stories
This historic review, the first of its kind since Independence, is set to provide a detailed breakdown of all debt accumulated by the government.
In his suit, Omtatah wants former National Treasury CS Njuguna Ndung’u, Controller of Budget Margaret Nyakang’o, and Auditor-General Nancy Gathungu to...
The cash goes straight to the roads board, which conducts maintenance of roads on behalf of the government. Ruto's government has also turned to China...
While admitting that Kenya has encountered fiscal challenges, the CS maintained that the nation’s debt position remains sustainable.
The court dismissed the application, stating that the government failed to demonstrate how its pending appeal would be undermined without the suspensi...
Omtatah says the Senate has been deliberately edged out of the national budgeting process, leaving legislators like him powerless.
Mbadi highlighted that the ongoing fiscal consolidation strategy aims to boost revenue while curbing excessive spending.
Kenya’s debt-to-GDP ratio stood at 65.7 per cent as of June 2024—well above the 55 per cent sustainability threshold.
Treasury Cabinet Secretary John Mbadi revealed that these unutilized funds continue to accrue commitment and interest fees.
The sharp rise in domestic interest payments highlights the financial strain of borrowing from the local market as the government navigates rising deb...
The approval comes barely three days after The Controller of Budget, Margaret Nyakang'o, challenged the Treasury to reduce the country's Gross Domesti...
Treasury CS John Mbadi distanced his office from responsibility, saying individual accounting officers should explain why payments were processed manu...
The document reveals that the government secured 18 new loans from both bilateral and commercial creditors during the four months.
The current public debt currently stands at 67 per cent of GDP, amounting to Sh10.79 trillion as of September 30, 2024, a sharp increase from Sh10.58...
Kenya’s debt service costs on external debt more than doubled in 2023, rising from Sh403 billion to Sh839 billion. This sharp increase was attributed...
The warning follows the IMF's approval in October of a Sh78 billion loan to Kenya. The decision was part of a review process disrupted earlier this ye...
Gathungu pointed out that her office was unable to obtain all the necessary documents to link the borrowed funds to specific projects.
The audit identified several IT control issues, including discrepancies between the closing balances reported in the Annual Debt Management Report and...
The mounting defaults are raising concerns about the sustainability of Kenya's public debt, which now stands at Sh10.6 trillion.
Previous regular debt audits by the Auditor General’s office have borne no fruit, causing a depressed tax policy at the taxpayer's expense.
Kenya's public debt has ballooned from Sh2 trillion to over Sh10 trillion in a decade, pushing the debt-to-GDP ratio to a precarious 70 per cent.
According to the petitioners, the President's action undermines the constitutional role of the Auditor General, which could erode public trust and pot...
Push for increased revenue mobilisation has taken a hit on Kenya, resulting in the anti-tax protests.
The taskforce was gazetted on Friday a few minutes after President William Ruto announced new austerity measures following widespread rage over the wa...
The lawyer's lobby declined the appointment noting that auditing public debt is a role designated by the constitution to the office of Auditor General...
"Despite all this, as a nation, we are finally having the right conversation, not about our tribes, personalities, or political formations, but rather...
After 90 days, the task force will have served its purpose and report directly to the President.
To address this, the Committee says financing of the gap will predominantly shift towards foreign borrowing.
