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Treasury's overdraft at CBK hits Sh79b as cash crunch bites

As of June 2, Treasury could only borrow Sh1.08 billion from its overdraft facility at the Central Bank of Kenya. [Samson Wire, Standard]

The National Treasury used up 90 per cent of its overdraft facility at the Central Bank of Kenya (CBK) on the back of a biting cash crunch earlier this year that saw salaries for public sector workers delayed for the first time.

This is according to revelations by CBK to parliament's Public Debt and Privatisation Committee, indicating that the government's usage of the emergency fund has hit a record high.