Kenya: Raphael Owino Named New Debt Management Boss At Treasury

4 July 2024
Capital FM (Nairobi)
By Phidel Kizito

Nairobi — The Public Service Commission (PSC) has appointed Raphael Owino as the new Director General of Public Debt Management at Treasury.

In a statement, the National Treasury expressed confidence in Owino, adding that he has a good track record from his previous engagement at the Central Bank of Kenya.

"His expertise in public debt management, particularly in achieving and maintaining sustainable public debt, reducing long-term debt servicing costs, and managing the risk of contingent liabilities, will be a significant asset," read the statement by Treasury in part.

"We are confident that Mr. Owino's expertise, experience, and insights will greatly benefit our organization as he steps into this critical role."

In January this year, the Treasury began searching for a new Public Debt Management Director General (DG) to replace Haron Sirima following his exit at the height of a high debt burden, which is eating up funds meant for development.

CBK and Treasury data showed that the country's debt burden was $69.3 billion as of the end of June last year, up from $58.4 billion during a similar period in 2022.

Read the original article on Capital FM.

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