The Auditor-General, Nancy Gathungu, has flagged the National Treasury over the alleged diversion of Ksh 30 billion from Eurobond proceeds to cover domestic Treasury Bond shortfalls, a move she says breached the terms of the sovereign bond agreement and raised concerns over fiscal accountability. “The utilisation of the sovereign bond proceeds to cover the Treasury
Kenya is facing mounting financial pressure after the World Bank delayed the release of a Ksh 96.9 billion ($750 million) budget support loan, citing pending reforms that the government must complete before the funds can be disbursed. The delay comes at a time when the government is grappling with a Ksh 1.22 trillion budget deficit,
The Senate’s Labour and Social Welfare Committee has strongly condemned the Ministry of Education and National Treasury for mishandling the growing pension problem at the Technical University of Kenya (TUK) amid mounting debts worth billions of shillings owed to retired staff. Lawmakers accused the two ministries of neglecting former employees, warning that the continued delay
Popular Posts
