US cautions that Kenya’s growing debt burden is compromising the country’s ability to deliver quality medical care and education...READ THE FULL STORY HERE▶
Elevated debt servicing costs are consuming a larger portion of tax revenues and leaving little for development projects and poverty reduction programs.
According to a biennial report by the Office of the United States Trade Representative on the African Growth and Opportunity Act, nearly 75.47 percent of taxes collected in the past financial year went towards repaying Kenya’s domestic and foreign debt.
