Due to significant short-term debt obligations and predicted income collection that is expected to increase by 34% in 2023–2024 from the current level of Sh930.35 billion to Sh1.25 trillion, Kenya is pressing for debt forgiveness.
On the eve of the Spring Meetings, members of the Parliamentary Public Debt and Privatization Committee and their counterparts from Finance and Planning met with representatives from the World Bank and the International Monetary Fund (IMF) to start discussions about debt forgiveness.
Kuria Kimani, the chairman of the parliamentary finance and national planning committee, acknowledged the need for immediate assistance as the nation is in debt difficulty while speaking to a local television station.
