John Mbadi reveals the government has began the national debt audit
- Published By Jedida Barasa For The Statesman Digital
- 2 months ago
Kenya's auditor general has started to examine the country's debt to ascertain the amounts owed to various creditors, Finance Minister John Mbadi told Reuters on Monday.
The East African nation's debt stands at 10.5 trillion shillings ($81.71 billion) but an audit of the borrowings was one of the key demands of anti-tax hike protesters that forced the government to abandon a number of planned tax increases in June.
The audit has already started, Mbadi said, but did not provide further details regarding the focus of the investigation or when a report is expected to be ready.
The auditor general is a constitutionally mandated independent office that is funded by the state.
During the height of the protests, President William Ruto appointed a committee to perform the audit. However, several appointees, including the head of the Law Society of Kenya, declined the appointments, saying the task should be carried out by the auditor general.
During his parliamentary vetting for the post, Mbadi had promised to ensure there is more "debt accountability" to help the public better understand the issue.
More than 50 people were killed in the protests, which forced President Ruto to abandon the government's financing law.
It also led to a series of credit downgrades by the three main global ratings agencies.
A team from the International Monetary Fund is in the country on a fact-finding mission ahead of its board meeting to approve the latest review of Kenya's programme and approve a disbursement of $600 million.
Share on
SHARE YOUR COMMENT
MORE STORIES FOR YOU
Trending Stories
DJ Mo’s former illicit lo...
- Published By Jane
- January 15, 2024
Mapenzi! Zari and Tanasha...
- Published By Jane
- October 24, 2023
Zuchu Speaks on Diamond P...
- Published By Jane
- October 12, 2023
Hio Ni Upumbavu Wasituche...
- Published By Jane
- November 8, 2023
RECOMMENDED FOR YOU
How to deal with a silent...
- Published By Jedida
- October 16, 2024
How to set yourself up fo...
- Published By Jedida
- October 16, 2024
Postpartum Hemorrhage: Si...
- Published By Jedida
- October 16, 2024
Study reveals long term e...
- Published By Jedida
- October 16, 2024
Latest Stories
The slippery slope: Why y...
- Published By Jane
- November 24, 2024
Teach me the secret to ma...
- Published By Jane
- November 24, 2024
Character: How to replace...
- Published By Jane
- November 24, 2024
SportPesa announces Sh84...
- Published By Jane
- November 24, 2024