Debt repayments gobbled up nearly 58 percent of taxes in four months through October ahead of the Treasury’s move to apply for additional cheaper World Bank and IMF funding and consider a debt relief offer Nairobi had earlier rejected.
Treasury data showed Friday that debt servicing costs amounted to Sh246.29 billion in the July-October 2020 in an environment of falling tax receipts, which dipped Sh71.94 billion to Sh426.38 billion compared with a year earlier.
