Public Finance Management Act

49. Authority for borrowing by the national government

Edition: 2026-09-25 · In force

49. Authority for borrowing by the national government

(1)Subject to provisions of this Act, the Cabinet Secretary may, on behalf of the national government, raise a loan only if the loan and the terms and conditions for the loan are set out in writing and in accordance with—

(a)the fiscal responsibility principles and the financial objectives set out in the most recent Budget Policy Statement; and

(b)the debt management strategy of the national government over the medium term.

(2)A loan may be raised either within Kenya or from outside Kenya.

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Source: Kenya Law