KENYA: GOVERNMENT NOT SERIOUS ON AUSTERITY AS DEBT SERVICING CONCERNS INTENSIFY

KENYA: GOVERNMENT NOT SERIOUS ON AUSTERITY AS DEBT SERVICING CONCERNS INTENSIFY

   Mon, 23 September 2019

Kenya’s new acting finance minister is paying lip service to austerity to soothe creditor concerns, while raising local borrowing, increasing discretionary spending on politically driven projects, and doing little to meet revenue collection targets. As the government again fails to lift a controversial interest rate cap, a slowing private sector will begin to impact economic output projections which will further raise concern over debt servicing.



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