The stock of outstanding government securities held in short term treasury bills has risen significantly in the past one year, putting refinancing pressure on the government that has been keen to lengthen the maturity profile of domestic debt.
Latest Central Bank of Kenya (CBK) data shows T-bills now account for 37.5 per cent of all government securities, up from 32.7 per cent a year ago, while the share of bonds has gone down from 64 per cent to 60.2 per cent in the period.
