President William Ruto's administration on Friday, June 30, breached a Ksh10 trillion debt limit set by Members of Parliament in 2021. Even though there are clear indications that President Ruto had significantly slowed down on borrowing, it was no doubt that his government needed to return to MPs and seek adjustments to the country's debt ceiling. There are a number of things that countries can do to boost international lenders' confidence apart from adhering to local legal guidelines. "These factors include maintaining a high rate of economic growth, keeping the country's debt burden under control and adopting sound fiscal policies," CPA Jombo explained. Jombo explained that by taking these steps, Kenya can increase her chances of getting loans from international lenders at favourable terms, which can help the nation achieve economic development goals.

Source: Daily Nation July 04, 2023 10:32 UTC