Kenya: How Jubilee Government Sank Kenya Into Debt Trap

When President Mwai Kibaki left office in March 2013, Kenya’s total public debt stood at about Sh1.8 trillion, which was around 42.8 per cent of the country’s annual productivity.

The National Treasury was financing more than 90 per cent of Kenya’s annual budget, rendering International Monetary Fund (IMF) and World Bank officials in Nairobi almost irrelevant.

Fast-forward to 2021 and Kenya is back to dancing to the IMF tune.

Kachumbari bond

Nine years of the Jubilee administration have seen the…


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