- Rotich says estimates fell to Sh455.34 billion in May from Sh658.23 billion in January.
- The Treasury has increasingly contracted short-term domestic debt, largely Treasury bills, in recent years to meet cash demands for service delivery.
The Treasury has reached a deal with investors for rollover of a further Sh10.88 billion in loan repayments which were due in the year ended last month, latest statistics show.
Treasury secretary Henry Rotich says the estimates for debt repayments fell to Sh455.34 billion in May from nearly Sh466.23 billion in April and nearly Sh658.23 billion in January.
That means since January domestic debt totalling Sh202.88 billion which were due for payment in the just ended financial year have been rolled over.
A rollover happens when the borrower takes another loan for the same amount of a maturing debt rather than pay off the principal or the creditor re-invests the same money in a new facility.
Kamau Thugge, Treasury Principal Secretary, said late March the Treasury will continue to adjust the estimates for domestic borrowing and domestic debt repayments to remove rollovers that do not reflect actual cash outflows from the exchequer.
Net domestic borrowing in 11 months to May stood at Sh330.17 billion, the exchequer data shows, overshooting the Sh267.63 billion full-year target by nearly Sh62.55 billion.