IMF urges Kenya to contain rising debt levels

Kenya’s rising debt levels need to be contained to cushion the economy from instability, the International Monetary Fund (IMF) has warned.

The organisation’s representative for Kenya, Jan Mikkelsen said while the economy had proved to be resilient to drought and a prolonged electioneering period this year, the rising public debt was a concern and needed to be checked to avoid any shocks to the economy in the future.

Kenya’s public debt has been on an upward trend in recent years, rising to Ksh4.4 trillion by the end of September from less than a trillion shilling in mid-2014.