Finance ministry and central bank officials in East Africa are under pressure to mobilise resources to finance projects pledged during election campaigns, reward political loyalists and pay off debts, amid tightening financial conditions in local and foreign markets.
The technocrats are carrying out a balancing act in allocating resources to finance government operations, service debts, fulfil voter promises and implement stimulus programmes to shore up economies saddled by rising inflation, depreciating currencies and the high cost of living.
