Kenya’s auditor general has begun reviewing the country’s debt to determine the amounts owed to various creditors, Finance Minister John Mbadi informed Reuters on Monday.
The nation’s debt currently stands at 10.5 trillion shillings ($81.71 billion). This audit was one of the primary demands made by anti-tax hike protestors, who successfully pressured the government to abandon several planned tax increases in June.
Mbadi confirmed the audit is underway but did not offer specifics on its scope or when the findings will be available. The auditor general, a constitutionally mandated independent office funded by the government, is overseeing the process.
During the peak of the protests, President William Ruto established a committee to conduct the audit.
However, multiple members, including the Law Society of Kenya’s leader, declined the appointments, insisting that the auditor general should handle the task.
During his parliamentary vetting, Mbadi pledged to enhance “debt accountability” to increase public understanding of Kenya’s borrowing.
Over 50 people lost their lives during protests that led President Ruto to abandon the government’s financing law, resulting in multiple credit downgrades by major global ratings agencies.
Meanwhile, an International Monetary Fund team is conducting a fact-finding mission before an upcoming board meeting to approve Kenya’s programme review and a $600 million disbursement.
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