Treasury now moots new debt policy to retire expensive loans

Ambassador of Japan to Kenya Ryoichi Horie (Left)shake hand with Amb. Ukur Yattani (Right)acting cabinet secretary national treasury on 20th September 2019 at Treasury building in Nairobi, during the signing of the deal to construct the Likoni bridge and a special economic zone at Dongo Kundu, Mombasa. [Edward Kiplimo, Standard]

Treasury is unveiling a new debt policy whose main deal will be to retire most of the expensive loans that the current administration has accumulated.

Acting National Treasury Cabinet Secretary Ukur Yatani said that going forward, the country will try to minimise uptake of expensive commercial loans which have increased the country’s risk for defaulting.