Treasury overdraft at lowest level in a year

The National Treasury has paid back part of the quick-disbursing loan from the Central Bank of Kenya (CBK) following new cash from China, bringing the short-term facility to the lowest level in over a year.

Treasury secretary Henry Rotich repaid the CBK Sh30.5 billion last week reducing the Treasury’s overdraft to Sh13.6 billion down from Sh44.2 billion. The facility is given to the Treasury when it needs cash quickly such as for the settlement of salaries to public servants.