The implosion will be swift and far-reaching if the economy is founded on shaky grounds as it happened in Sri Lanka. There are several similarities between Kenya and Sri Lanka. However, while external debt alone is 70 per cent of GDP in Sri Lanka, in Kenya, this is at 35 per cent. But can Kenya really go the Sri Lanka way? A capital gains tax on stocks, a debt tax on financial institutions and a debt service tax have also been removed.

Source: Standard Digital July 18, 2022 16:38 UTC