Kenya Debt Risk Rises As Controller of Budget Warns of 'Vicious Cycle'

Kenya Debt Risk Rises As Controller of Budget Warns of 'Vicious Cycle'

Nairobi -- Kenya's fiscal outlook has come under renewed pressure after Controller of Budget Margaret Nyakang'o warned of a deepening debt cycle driven by costly borrowing and weak project coordination.

Kenya Debt Crisis: 3.3T Due Within One Year with Massive Commitment Fees

The controller of the budget presented some challenging figures in parliament, giving Kenya’s debt crisis a new impetus. The controller of the budget, Margaret Nyakang’o, informed lawmakers that they must repay 3.3 trillion shillings of external debt within the next twelve months. That slice makes up most of the country’s foreign borrowing, and it leaves […] Source