Kenya is undergoing unprecedented economic strain. This is as a result of an economic recession exacerbated by the Covid-19 pandemic; an external debt burden that takes up a huge chunk of our revenue; huge recurrent expenditure and runaway corruption that takes up a third of our revenue according to the office of the Auditor-General.
In February 2018, the International Monetary Fund (IMF) advised Kenya to formulate clear policies to address the “debt vulnerability”, which could rise further if we continue our borrowing trends.