Central Bank governor Patrick Njoroge has warned that further borrowing to fund development projects is not healthy for the country. “The headroom (for borrowing) has now decreased. We cannot continue borrowing for spending on even the good projects. In February, International Monetary Fund officials told a parliamentary committee that the country’s excessive borrowing amid huge revenue deficit is worrying. However, Dr Njoroge warned that before settling for such proposal, there is need to make sure that there is enough consultation and stakeholders’ engagement.

Source: The Star May 30, 2018 21:33 UTC