Kenya’s Enormous Debt Burden

The debate on the looming international debt crisis continues. IMF says global public debt = $246.5 trillion in 2019, nearly 320% of global GDP.

In Sub-Saharan Africa, there is an even bigger problem, with 40% of countries being in debt-distress. The East African region is particularly at high risk of debt distress with a combined debt stock of more than $105 billion.

Many agree that Public Debt in Kenya has become a problem. CBK says Kenya debt stock rose from Ksh1.2 trn in 2009 to Ksh6.0 trn in 2019. Debt-GDP ratio rote 59.9% by the end of 2019. Currently, debt repayment now gobbles more than 30% of the annual national budget.

Acepis Executive Director Kenneth Okwaroh reflects on Kenya Public Debt Situation

Okwaroh is a Research Associate at Acepis. He has broad experience (10 years) in research and analysis in Public policy. Okwaroh has facilitated policy engagements, identified critical evidence gaps and conducted/contributed to research producing papers, policy briefs on economic and social policy in Eastern Africa. He is also a regular commentator on political economy issues in Eastern Africa.Read Okwaroh's full bio on the 'Meet Our Team' page.

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