More borrowing and more loans for Jubilee Government.

One thing that we will remember jubilee   government for is borrowing of loans. The country`s loan debt currently stands at Ksh 7.3 trillion.

The National Treasury is set to go the Eurobond market to borrow at ksh 124 billion by the end of June 2022.The new loan will raise the country`s stock of Eurobond to Ksh 734 billion and will be used to repay the country`s maturing loans.

Aron Sirima who is director general of The Public Debt Management, said that retiring old Eurobonds will give the government some breathing space by reducing the interest repayment pressure.

Sirima revealed that borrowing new debt is part of the government overall plan to deal with Eurobonds which started maturing in 2020 and are set to continue falling due for the next three decades.

By: Mikey Mugutsu 

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