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Treasury bills share of domestic debt rises to 14 percent
For the Treasury, the increase in the share of T-bills in its domestic debt mix is a negative on its efforts to lengthen the maturity profile of the debt and avoid short-term refinancing risk.
The share of the government’s domestic debt in the form of Treasury bills has risen to an 18-month high following the heavy subscriptions in October and November by investors locking in higher returns before interest rates fell.
Central Bank of Kenya (CBK) data shows that as of January 7, T-bills accounted for 14.28 percent of the government’s outstanding domestic borrowings, up from 12.72 percent in September and 11.38 percent in June 2024.
