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Why debt ceiling is a poor tool to cut public borrowing

By Odhiambo Ramogi | 4yrs ago

A debt ceiling is a statutory limit on the amount of debt that a government can borrow. [iStockphoto]

The debate on the debt ceiling as a tool for public debt management is not unique to Kenya.

The US commenced the use of the debt ceiling in 1917, after the First World War to manage the ballooning public debt at that time.

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