An analysis of the Consolidated Fund Services (CFS), whose budget has crossed the Sh1 trillion mark for the first time in history, tells the short sad story of Kenya’s debt. By the end of this month, Kenya’s total public debt is expected to close the financial year at Sh6.4 trillion. In the new fiscal year, Kenya’s debt obligations will swell by another 30 per cent compared to the ending financial year. This makes China the single biggest recipient of Kenya’s debt repayment billions. In total, external debt redemption and interest on external debt will receive Sh334.3 billion in the new year.

Source: Daily Nation June 09, 2020 07:52 UTC