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World Bank cautions Kenya to tame borrowing spree
Treasury Cabinet Secretary Henry Rotich. The warning runs contrary to the Treasury’s position that the national debt is manageable. PHOTO | FILE
Kenya is building a potentially dangerous mountain of debt that could in the long run expose the economy to systemic risks, the World Bank has warned in a newly-released report.
The World Bank warns in the report that while Kenya’s public debt remains sustainable, the margin for further debt accumulation is narrowing at an uncomfortably rapid pace and exposing the country to potentially difficult times ahead if the borrowing spree is not tamed.
