In a document dubbed “The Fiscal Heist”, Jimi Wanjigi states that the total public debt in 2014 was Sh2.4 trillion. See a screen grab from the forensic report below;
Background
On July 24, 2022, businessman and former presidential aspirant, Jimi Wanjigi caused an uproar when he released what he called a “forensic investigation” of government books. Essentially, Mr Wanjigi claims that the government fraudulently borrowed Sh9.7 trillion over the past decade. Moreover, he claims that Kenya has repaid all its approved debt.
Verification
According to CBK data, Wanjigi’s claim that Kenya had a debt of Sh2.4 trillion in 2014 is TRUE. See screen grab below.
CBK data ending in April available on the website further corroborate Wanjigi’s assertion that our current debt is Sh8.4 trillion. See screen grab below.
Additionally, data from Treasury’s Monthly Debt Bulletin for the month of May 2022 puts the total public debt at a higher figure of Sh8.563 trillion.
Furthermore, latest International Monetary Funds projections in a report published on July 19, 2022, place total public debt at Sh9 trillion after the second budget revision. See screen grab below.
Verdict
Jimi Wanjigi’s claims about Kenya’s public debt in June 2014 and April 2022 are MOSTLY TRUE.
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