Kenya is facing a debt crisis, MPs warnEconomic growth will continue to be in distress unless the growing public debt is managed through minimal borrowing and fiscal regulations. Kippra's Benson Kiriga told the leadership of the National Assembly that although the agency concurred with Treasury that the country's public debt was sustainable, "it was very high in nominal terms". “Kenya faces a moderate risk of external debt distress due to a breach of at least one of the three external debt indicators,” Mr Kiriga said. Kippra's analysis came even as Treasury's Director for Debt Policy Daniel Ndolo played down the statistics, struggling to convince the MPs that the debt situation was sustainable. Kiriga said counties had also contributed to the debt situation and should only be allowed to borrow if they could repay.

Source: Standard Digital April 28, 2019 21:11 UTC