×
App Icon
The Standard e-Paper
Informed Minds Prefer The Standard
★★★★ - on Play Store
Download Now

State eats up Sh74b emergency fund at CBK in under 6 months

Vocalize Pre-Player Loader

Audio By Vocalize

Central Bank Of Kenya Building on Haileselasie Road Nairobi. [Wilberforce Okwiri, Standard]

The Central Bank of Kenya (CBK) has informed Parliament that the government has already borrowed over three-quarters of its emergency funds at the apex bank in under six months, leaving only a quarter remaining.

The Sh97 billion emergency facility domiciled at the CBK is designed to alleviate the government's financial strain by balancing out the fluctuations between income from budgeted revenue and expenses, offering temporary relief.

Premium Article

Get Full Access for Ksh299/Week.

Uncover the stories others won't tell. Subscribe now for exclusive access.
Continue Reading  →
What you get
  • Unlimited access to all premium content
  • Ad-free browsing experience
  • Mobile-optimised reading
  • Weekly newsletters & digests
Pay via
M - PESA
VISA
Airtel Money
Secure Payments Kenya's most trusted newsroom since 1902
Enterprise
Presidential advisor urges partnerships to make women owned businesses bankable
Enterprise
State issues draft regulations for issuance of stablecoins
Business
Come clean on hidden debt or no deal, IMF's new ultimatum to Ruto
Business
Motorists to bear the brunt as pump prices jump by Sh28 per litre