President William Ruto has moved to replace the Sh10 trillion public debt ceiling with a debt anchor as a percentage of gross domestic product (GDP), in line with a promise made to the International Monetary Fund (IMF) by the previous administration, but the Parliament rejected it.
This is after Cabinet on Tuesday gave a nod to the National Assembly to move the debt ceiling from the current limit of no more than Sh10 trillion to a new debt anchor set at 55 percent of GDP in present value terms.
