As of May 2010, Kenya’s debt level stood at 44 per cent of GDP, external debt to GDP is at 28 per cent – a level much lower than for most countries in this region (it has moved from 60 percent in 2003 to 40 percent in 2009 and to 44 percent as at May 2010).
You will agree with me that this is commendable for a country which has not been a beneficiary of the HIPC initiative. The overriding fiscal thrust of the Government, is to contain the stock of debt to a sustainable level of 40 percent of GDP.