World bank warns Kenya is at risk of default

[The truth seeker]

Kenya at high risk of debt default and austerity measures not enough; World Bank warns

The World Bank now says that Kenya’s debt level is increasingly concerning, with the classification of "high risk of default" only serving to put more pressure on the National Treasury.

www.citizen.digital

Kenya could run out of money to repay massive debts: how to avoid this

Unless Kenya secures a write-off or other debt-reducing deal, it will almost certainly default.

theconversation.com

World Bank Warns Kenya on Debt Crisis: Austerity Not Enough as Risk of Default Looms

As Kenya inches closer to the reading of its 2025/26 national budget, the World Bank has raised fresh concerns over the country’s mounting debt burden, warnin

thetimes.co.ke

@jusbrowsin i told you

 

[bobby_hill-Punt]

Kenya at high risk of debt default and austerity measures not enough; World Bank warns

The World Bank now says that Kenya’s debt level is increasingly concerning, with the classification of "high risk of default" only serving to put more pressure on the National Treasury.

www.citizen.digital

Kenya could run out of money to repay massive debts: how to avoid this

Unless Kenya secures a write-off or other debt-reducing deal, it will almost certainly default.

theconversation.com

World Bank Warns Kenya on Debt Crisis: Austerity Not Enough as Risk of Default Looms

As Kenya inches closer to the reading of its 2025/26 national budget, the World Bank has raised fresh concerns over the country’s mounting debt burden, warnin

thetimes.co.ke

@jusbrowsin i told you

Kenya will become the best place to live once it deep shit for foreigner due to it need for USD

 

[NordicSomali]

What these countries don’t understand is that you need to be able to raise taxes to pay back the loans. You need an extensive and easy system to raise taxes.

Ok, you borrow money to invest in infrastructure that increases incomes etc., the you need to be able to tax those incomes.

So invest in stuff you can tax later.

 

[mr.overeasy]

What these countries don’t understand is that you need to be able to raise taxes to pay back the loans. You need an extensive and easy system to raise taxes.

Ok, you borrow money to invest in infrastructure that increases incomes etc., the you need to be able to tax those incomes.

So invest in stuff you can tax later.

Yeah but the key part of that is not being a thief, and african elections usually see thieves gain power.

Its rare when a man of morals wins an election, and when they do its sanctions time.

 

[NidarNidar]

Under Kenyatta's leadership, Kenya experienced notable economic growth, with the country's GDP more than doubling during his decade in office. This expansion was driven by infrastructure projects, including the Standard Gauge Railway, and increased foreign investment. However, these developments were accompanied by a substantial rise in public debt, which grew from approximately KSh 1.8 trillion in 2013 to nearly KSh 8 trillion by 2022 (that . Critics argue that this borrowing was excessive and not sufficiently matched by economic returns, leading to concerns about fiscal sustainability.

National Youth Service (NYS) Scandal: In 2018, over KSh 8 billion was allegedly embezzled from the NYS, implicating numerous officials .

Arror and Kimwarer Dams Scandal: The government approved a KSh 63 billion loan for these projects, which were never completed, leading to accusations of misappropriation of funds .

Pandora Papers Leak: In 2021, the Kenyatta family's offshore wealth was exposed, raising questions about transparency and the concentration of economic power .

President William Ruto's is under huge pressure due to him mainly keeping Kenyans accountable due to mismanagement of the previous regime, his cleaning shop, raising taxes and paying off debts, but instead of blaming previous regime, they target him, his good for Somalis so that's enough for me.

Under Ruto's leadership, numerous government officials have been suspended or investigated for corruption:

Kenya Medical Supplies Authority (KEMSA): CEO suspended over a $3.7 billion anti-malaria net procurement scandal.

Kenya Bureau of Standards (KEBS): Managing director suspended following the release of contaminated sugar.

Kenya Forest Service: 23 officials suspended over alleged corruption.