Kenya’s auditor general has initiated an audit to assess the nation’s debt, Treasury Cabinet Secretary John Mbadi announced on Monday. This review aims to clarify the amounts owed to various creditors.
Kenya’s debt has reached 10.5 trillion shillings ($81.71 billion). The audit was a key demand from anti-tax hike protesters, who successfully pressured the government to cancel several planned tax increases in June.
Mbadi still needs to specify the audit’s focus or its findings’ release date. The Auditor General’s Office, constitutionally independent and state-funded, is conducting the investigation.
Amid the protests, President William Ruto formed a committee to handle the audit. However, many appointees, including the head of the Law Society of Kenya, declined, insisting the auditor general should lead the effort.
During his parliamentary vetting process, Mbadi committed to enhancing “debt accountability” to improve public understanding.
The protests resulted in over 50 deaths and led President Ruto to withdraw the government’s financing law, prompting credit downgrades by major global rating agencies.
An International Monetary Fund team is currently in Kenya reviewing its finances before an IMF board meeting on a proposed $600 million disbursement.
