Kenya will not default on any of its foreign debts, president William Ruto has reaffirmed.
Ruto said he has put in place necessary measures that will ensure the country continues repaying the debts at ease while ensuring it remains self-reliant.
"We are not in that position that we can default and the people of Kenya can be rest assured we are not going to fail on our obligations," said Ruto during a media interview Wednesday night.
He further noted they have slowed down on any more borrowings and ensure any borrowing is limited to only what must be borrowed.
His administration, he added, has also begun the process of growing savings and increasing revenues by expanding the tax base and digitising all government services.
"We are making sure that the tax system is friendly and accelerating the savings plan...once we scale up you are going to see the savings that we are going to make," he said.
There were media reports immediately after the exit of former president Uhuru Kenyatta in October last year that Kenya had been fined Sh1.3 billion by China for allegedly defaulting on the SGR loan.
Former Treasury cabinet secretary Ukur Yatani was, however, forced to come out and deny the allegations as untrue.
Yatani said all public debt, including the SGR loans, is paid for from the consolidated fund in accordance with the public finance management Act, 2012.
"Kenya has not accumulated any debt arrears to suggest difficulties in debt servicing," Yatani said.
