The Central Bank of Kenya (CBK) will earn a total of Sh12.62 billion in interest from emergency lending to the National Treasury in the financial year ending June 30, 2024, more than twice the original estimates following a rise in the base rate over the last 12 months.
A report on consolidated fund services expenditure published by the National Assembly’s Public Debt and Privatisation Committee shows that the Treasury had spent Sh7.03 billion in interest payments on the CBK overdraft facility in the nine months to March 2024, representing an increase of 104 percent over the corresponding period in the 2022/2023 fiscal year.
