Indebted: Kenya’s Journey to a Debt Crisis Part 3 – Dams, Dollars and Debt Ceilings

Kenya’s economy is in serious trouble. The country’s leadership has just pushed through Parliament a budget that is driven by the need to collect as much tax as possible. In fact, the government’s target of Kshs 3.6 trillion in the 2023/2024 budget is Kshs 1.5 trillion more than the 2022/2023 budget. This speaks to the desperate situation that Kenya is in. But Kenya’s debts don’t come from thin air.

This series breaks it all down. It is a story of at least a decade of mismanagement of Kenya’s loans, shocking corruption and debt dependency that has led the country to this point told by auditors, analysts and insiders.