In May, the World Bank gave Kenya a Sh107 billion loan to fill the gap in the budget after the global crisis hit consumers and business. Central Bank of Kenya data show total government debt stood at Sh6.649 trillion as at end of May, composed of Sh3.496 trillion external debt and Sh3.153 trillion in domestic borrowing. The second component of $250 million, which came from the International Bank for Reconstruction and Development with an interest rate of about two percent. SH6.7 TRILLIONThe public debt is expected to close at Sh6.7 trillion for the year ending June 2020, with a net public debt increase of Sh800 billion over the fiscal year. Kenya’s public debt, which has raised sustainability questions recently, currently stands at around 65 percent of GDP.

Source: Daily Nation July 21, 2020 06:56 UTC