Treasury struggles to get T-bill buyers

National Treasury Acting CS Ekur Yattani when he appeared before the Senate Finance Committee to deliberate on administrative options for financing county governments. [Boniface Okendo/Standard]

The government has found itself with less cash to spend on critical items such as drugs after it was forced to offset some maturing short-term debt using taxes.

In a new budget document, the National Treasury says it had difficulty borrowing money to retire some maturing loans. This saw it resort to other revenues to refinance or roll over its short-term debts.