Nairobi, March 7 -- The share of Treasury bills in domestic debt has shrunk to the lowest level in history on continued debt management by the government.

Data published by the Central Bank of Kenya reveals the outstanding stock of T-bills shrunk to Sh553.3 billion at the end of last week representing 10.6 percent of total domestic debt.

Proportion of T-bills in internal debt has fallen over the years from a high of 70 percent in February 2001 to the current low and is expected to even go lower.

The fall is because of the government's aggressive aim in debt management by reducing short-term lending to push maturities to a longer period.

"The strategy aims at gradually reducing the stock of Treasury bills to manage refinancing risk and...