Bond to pay off debts is costly, unnecessary

In Summary

• The Budget Committee wants government to issue a Sh150 billion bond to pay off all domestic debt

• Kenya's debt to GDP ratio is around 72 percent, well above the recommended 60 percent

The parliamentary Budget Committee wants government to borrow Sh150 billion to pay off all its pending bills (see P12).

This is not a good idea even though the government's failure to pay its ...

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