Senior Management

 

Mission

To contribute to the rapid and sustainable development of the Kenya economy through prudent public debt management.


Vision
To achieve excellence in effective management of public debt.

Debt Management is responsible for the management of Kenya Public debt. The department is currently being transformed into Debt management Office within the Ministry of Finance. This process is part of the wider reform agenda to strengthen Government financial management. The transformation in the debt includes;

1. Effective organizational structures with front, middle and back offices
2. Legal reform
3. Comprehensive public service debt database
4. Capacity Building

Objectives

1. To minimize the cost of financing the government's fiscal deficit, taking into account risk
2. Develop debt policies that are consistent with macroeconomic policies;
3. Foster growth of the domestic debt market and create a sustainable local interest rate yield curve;
4. Monitor and if need be, manage other sources of sovereign risk e.g contingent liabilities, private sector short term debt, e.t.c
Strategies

1. Reduce the degree of volatility of annual debt service costs and contain the government's exposure to risks;
2. External borrowing to be contracted on concessional terms only;
3. Timely settlement of debt service to avoid arrears and penalty payments
4. Establish a Primary Dealers System to promote vibrant money and capital markets.