World Bank tells Kenya to live within its means amid economic struggles

National Treasury Cabinet Secretary John Mbadi when he appeared before the Public Debt and Privatisation Committee at Continental House, Nairobi recently. [Elvis Ogina, Standard]

The World Bank has urged the Kenya Kwanza administration to rein in its public debt and adhere to fiscal discipline to mitigate vulnerabilities and ensure sustainable economic growth.

In a new report published this week, the global lender emphasised the need for Kenya to reduce its debt burden to 55 per cent of GDP by 2029, a significant cut from current levels measured in present value terms.