Governor Thugge: Kenya Must Slow Debt Growth, Diversify Investors to Protect Economy
Kenya’s soaring domestic and external debt is putting increasing pressure on the economy, Central Bank of Kenya Governor Kamau Thugge said, as repayment performance shows signs of strain. Thugge, who spoke before the Public Debt and Privatisation Committee of the National Assembly on Tuesday, admitted that though the country was still meeting its debt obligations, the increasing repayment burden had narrowed down fiscal space. The situation raises concerns over potential debt distress, increasing the possibility of default. Thugge reported that total public debt for the 2024/25 financial year stands at Sh11.8 trillion, equivalent to 69 percent of GDP, surpassing the
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