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Parliament lifts the lid on opaque loan terms as Kenya debt spikes

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Treasury Cabinet Secretary Njuguna Ndung'u. [Elvis Ogina, Standard]

Parliament has revealed that opaque terms in State loans are pushing Kenya towards a debt crisis.

An investigation by the Public Debt and Privatisation Committee seen by Financial Standard found that Kenyan taxpayers are bearing a significant burden of hidden fees and costs in State loans, amounting to billions of shillings annually.

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By AFP 4 hrs ago
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