Kenya's National Treasury in Nairobi. There has been a rise in government borrowing since President Uhuru Kenyatta came to power in 2013— a jump that some politicians and economists say is saddling future generations with too much debt. FILE PHOTO | NMG
The World Bank has warned Kenya against piling up more debt than the country can repay, even as Parliament this week approved to raise borrowing ceiling to Ksh9 trillion ($85.7 billion).
A World Bank report released on Wednesday warns that Kenya is drifting towards debt distress, owing to the government’s huge appetite for expensive loans.
