Debt crisis jitters mount as repayments outstrip revenues

National Treasury Cabinet Secretary Njuguna Ndung'u when he appeared before the Senate standing committee on Finance and Budget on April 5, 2023. [Elvis Ogina, Standard]

Kenya's sovereign loan repayments rose faster than collections of tax revenues last month, National Treasury disclosures show, signalling the country could be headed for a fresh debt crisis.

Treasury documents show the taxman collected taxes amounting to Sh155 billion in July against debt repayment obligations of Sh161.8 billion in the same month.