[Standard]Former Central Bank of Kenya (CBK) Governor Njuguna Ndung’u has called for more prudent debt management strategies to pull the country out of the debt hole. National Treasury says the debt suspension will free up at least Sh78.17 billion by the end of this month. This follows the end of the six-month debt repayment holiday that Kenya received under the auspices of G-20, a group of wealthy countries. Kenya was from January 21 supposed to start repaying the Sh162 billion China loan used to build the Nairobi-Naivasha SGR line. Treasury recently disclosed that a Sh162 billion debt from the Exim Bank of China that Kenya tapped in December 2015 had fallen due.

Source: Standard Digital June 07, 2021 21:00 UTC