President William Ruto has revealed that Kenya's gross public debt has hit the Sh8.8 trillion mark.
He explained that at the end of March, it had hit Sh8.8 trillion.
Ruto revealed that the International Monetary Fund (IMF) wanted Kenya to borrow more funds.
"International Monetary Fund (IMF) does not run the government, I do. The IMF does not make decisions for Kenya, I do. Our public debt stands at Sh8.8 trillion They wanted us to borrow more, but I said No," he said.
The President pledged that he will ensure that the debts will be paid.
The head of state spoke during an interview with major TV stations at State House on Sunday evening.
"There is no country that can tax itself into prosperity. That is correct. But, you can not accumulate debt into bankruptcy as an option," Ruto said.
Last month, Treasury data revealed that Ruto’s administration has borrowed Sh17.4 billion more than his predecessor in its first six months in office, upending the plan to go slow on debt.
It also showed that the new administration tapped loans worth Sh452 billion in the six months to March, which is more than the Sh434.6 billion that its predecessor borrowed in the same period a year earlier.
