Public debt relief helps cut Kenya payments by Sh78bn

CBK-sirima

Public Debt Management Office Director General Haron Sirima. FILE PHOTO | NMG

Kenya projects savings of up to Sh78.17 billion after it signed debt repayment moratoriums with several rich countries, lifting pressure on its thinned domestic revenue collection.

The National Treasury estimates that deferred repayments for loan principals will amount to Sh42.23 billion in the current financial year ending June while reliefs on interest payments would hit Sh35.94 billion.

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Note: The results are not exact but very close to the actual.