Taming public debt elusive
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Nairobi, Dec. 14 -- Three months ago, a new sheriff came to town. And of course, that has meant a new way of doing things in several aspects of public administration.
However, we are yet to see a disruption in the management of public finances and one key area that still awaits reforms is public debt management.
There is no doubt that in recent years, the management of public finances has been marked by fiscal indiscipline with massive expenditure overruns.
READ: Kenya pays extra Sh5.4 billion for foreign debt on strong dollar
Financing excessive expenditures through borrowing has driven Kenya's level of debt distress from low risk to high risk within a short period of time.
Unfortunately, Parliament, which holds the powers to restor...
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