By Lisa Vives, Global Information Network
NEW YORK (IDN) – Lending institutions fear that Kenya’s foot may be stuck on the debt pedal with the latest loan of USD 750 million from the World Bank to be paid over 30 years. Several experts and players in the financial sector do not think all is well.
The Central Bank, which is the government’s banker, the International Monetary Fund (IMF), the Parliamentary Budget Office (PBO), the Institute of Certified Public Accountants of Kenya (ICPAK) and the Institute of Economic Affairs (IEA) all say Kenya’s debt position is getting to dangerous levels and the country must engage a lower gear before it is too late.