CSOs press government on public debt

TI-Kenya through the Social Justice & Economic Accountability (SJEA) which works to build partnership and good relations with national institutions relevant to Domestic Resource Mobilization (DRM) together with other partner Civil Society Organisations (CSOs) held a press conference to mount pressure on the government to re-open development of debt policy and borrowing framework. The CSOs demanded that the National Treasury re-opens the development of the proposed debt policy and management framework for meaningful public participation.

During the address it was noted that Public debt stood at KES. 6.2 trillion (64% of GDP) the highest level of debt ever recorded. Additionally, the proposed policy fails to provide debt indicators to discipline the Treasury despite calls across all sectors that they do so. This has made the partners surmise that government is not ready to tell Kenyans the real extent of public debt, and we are likely to see the debt to GDP ratio rise beyond the 100% mark in the very near future.

The CSOs have been conducting campaigns on public debt management calling on the government for prudent public debt management. In this campaign, the group made recommendations on the public debt policy and borrowing framework and urged the National Treasury to incorporate proper public participation and transparency and accountability in issues of national debt.

SJEA has continued to work on building relations with national institutions relevant to DRM and has had a number of courtesy visits to national institutions among them the ministry of finance and economic development in Rwanda, Tanzania Revenue Authority, Kenya Revenue Authority, Rwanda Development Board, the Public Debt Management Office, Kenya and the ministry of finance and economic development Uganda.

192

Leave a Reply

Your email address will not be published. Required fields are marked *