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Kenya: Treasury to Unveil New Taxes, Cut Back on Exemptions in IMF Reform Package
Nation, 8 April 2021
The government plans to introduce new taxes and cut back on existing tax exemptions as part of a reforms package funded by the International Monetary Fund (IMF). Read more »
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Kenya: Kenya's Debt Expected to Hit U.S.$204 Billion By 2030
Nation, 8 April 2021
Kenya's public debt is growing at a rate that by far exceeds forecasts by Parliament and the Executive. Read more »
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Kenya: Uproar as Country's Debt to Hit U.S.$98 Bllion By 2025
Nation, 7 April 2021
The National Treasury is getting ready to present its request to Parliament to increase Kenya's debt ceiling above Sh9 trillion, even as Kenyans protest Jubilee administration's… Read more »
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Kenya: IMF Defends Sh255 Billion Facility, Says to Align Kenya's Debt
Capital FM, 7 April 2021
The International Monetary Fund issued a statement on Tuesday explaining its decision to extend a Sh255 billion loan facility to Kenya saying the fund would help the country… Read more »
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Kenya: Revealed - Treasury to Borrow Another Sh780 Billion in Eurobonds
Nation, 7 April 2021
Kenya is not planning to slow down its borrowing appetite any time soon despite mounting public pressure on the government to slow down on its borrowing spree. Read more »
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Kenya: IMF Loans - State Wants Activist Edwin Mutemi Detained
Nation, 7 April 2021
Police want a Nairobi court to allow the detention of an activist suspected to be behind a poster circulating on social media indicating that President Uhuru Kenyatta is not… Read more »
Kenya's Treasury Introduces Reforms Ahead of IMF Covid-19 Loan
To get the latest U.S.$2 billion loan from the International Monetary Fund, the national treasury has reportedly promised to control the government wage bill - a signal of tough days ahead for government employees. This has seen the national treasury sign a raft of tax reforms to boost the revenue base at a time when the country is dealing with the Covid-19 pandemic, which has seen many Kenyans lose their livelihoods. Treasury has also committed to regular audits of the payroll to eliminate "ghost workers" and review and rationalise allowances earned by civil servants. It also said that government will improve functionality of its payroll management systems to cut down expenditure. Over 150,000 enraged Kenyans have signed a petition in a bid to stop IMF from releasing the loan for the Covid-19 vaccination campaign.
InFocus
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Experts have warned that the government is likely to breach the U.S.$80 billion debt ceiling by early 2022, if the rate at which it is borrowing to support its budget and finance ... Read more »
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The International Monetary Fund (IMF) has released a statement disclosing that tax, governance and monetary policy reforms, are part of its ongoing debt negotiations with the ... Read more »
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U.S.$8 billion of Kenya's Budget will go to servicing debt in the 2020/21 financial year. The Treasury has also shrunk Deputy President William Ruto's total allocation by 40% in ... Read more »
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Kenya's debt bill has shocked parliament, which has, for the past eight years, acted as cheerleader for the National Treasury's borrowing spree that has never been seen in any East ... Read more »
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President Uhuru Kenyatta has said that the government has opened talks with external lenders to suspend debt during the Covid-19 crisis, as the shilling depreciates to its lowest ... Read more »
