Draft Bill on Debt Management to be Tabled in May 2025

A joint workshop on Public Debt Management between the National Assembly Committee on Public Debt and Privatization and Westminster Foundation for Democracy (WFD) has come to an end, with the Committee Members now anticipating the upcoming Public Debt Management Bill.

According to the Committee Vice Chairperson, Makali Mulu (Kitui Central), the upcoming Bill is a game changer in the management of the country’s public debt.

“Through this workshop we have managed to know where we are as a country in debt stock. We have known our gaps and if we address them, we will be somewhere and manage our public debt effectively,” he said.

Mulu in his closing remarks further challenged his colleagues to ensure that the Bill is passed into a law before the next general election saying that through it, they will have helped the country a lot.

“We have two years to general election and as a Committee we now know where to go in terms of our debt management and one of the tools to take us there is the upcoming Public Debt Management Bill. So as a Committee, when the time is right lets go through it, make our contributions and have that Bill passed by the next general election and we will have helped this country,” he said.

Aden Daud (Wajir East) stated that he looked forward to seeing the first draft of the Bill by May 2025 and being able as a Committee to present it to their colleagues hoping that it will become a law in the country.

On her part Hon. Harun Sulekha (Nominated) also indicated that she looks forward to making more input to the Bill which she says is very necessary for the Country.

Hon. Joseph Makilap (Baringo North) lauded WFD saying that through the sessions they saw importance of Public Debt Management Officers (PDMOs) so that as a Committee they do not consume information which are tailored to suit the relevant bodies and not the truth required by Kenyans on matters public debt.

The second day of the workshop saw the Committee being taken through sessions on sovereign debt management and liability management, factors influencing the sovereign bond market and fiscal policy strategies for high debt stock management.