Huge debt burdens Kenya with weekly loan maturity rate of $368m
Kenya’s Treasury Cabinet Secretary Njuguna Ndung'u whosaid the country’s economy is facing what he termed a ‘perfect storm’, with missed growth targets worsening revenue shortfalls. PHOTO | DENNIS ONSONGO | NMG
Kenya’s President William Ruto administration is reeling under a huge public debt burden, with loans maturing at a rate of Ksh50 billion ($368.32 million) every week.
The situation is compounded by a revenue collection shortfall that has further pushed the country’s government to the brink.
