Last year, IMF warned about the country’s worrying debt levels before indicating earlier this year that all was well, albeit with disclaimers. “The Debt Sustainability Analysis finds that Kenya remains at low risk of debt distress. Not even Members of Parliament can alter the debt repayment schedule where loans and the related interest payments are settled before any other Government expenditure. For domestic debt, however, the National treasury has the option of rolling over the debts and only paying the debt holder’s interest, essentially buying time to repay at a future time. ALSO READ: KRA eyes landlords to cut tax arrearsPBO was concerned about the allocation to the Consolidated Fund Services where expenditures on pensions for civil servants and debt servicing are accounted.

Source: Standard Digital June 10, 2017 19:07 UTC