The head of state said for the government to propel its development projects the high debt burden must first be resolved. “When I assumed office Kenya debt had traveled all the way to New York but my government is committed to clearing all the debt,” he said. “The reggae brothers played reggae and forgot to pay the nation’s debt,” said Ruto adding that the country’s economy has been struggling as a result of the huge debt. “I have talked with the IMF, the World Bank and other development partners on how we will settle our country’s debt,” added ruto. The Board’s decision now enables the immediate disbursement of approximately US$624.5 million (Sh 99.6 billion) under the Extended Fund Facility (EFF) and the Extended Credit Facility (ECF) arrangements.
