By EDWIN OKOTHMore by this AuthorKenya’s new Sh210 billion Eurobond may have been praised by some as a success, but details of its intended use remain as hazy as those of the first one, which was floated in 2014. “The ministries cannot differentiate whether the money they have received from the Exchequer came from VAT, income taxes, customs duties, excise taxes, domestic borrowing or the Eurobond,” Mr Rotich told the Business Daily. Incidentally, the Treasury was listed as among the ministries and government departments that spent money outside Ifmis. Mr Odinga had also challenged the government to table the list of grand projects it financed with the Eurobond money. The President dismissed Mr Ouko’s plans to investigate activities of the Federal Reserve Bank of New York regarding alleged misuse of the $2 billion Eurobond cash.

Source: Daily Nation May 19, 2019 03:00 UTC