NAIROBI, April 26 (Xinhua) -- The National Treasury and Economic Planning of Kenya has proposed to amend its debt law by removing the current ceiling of 10 trillion shillings (about 73.64 billion U.S. dollars) and replacing it with a new measure based on the gross domestic product (GDP) for the efficient budget deficit and debt management.
The government agency said Wednesday it's seeking to introduce a debt anchor that is pegged at 55 percent of the GDP. The new debt anchor will, therefore, allow more borrowing to finance the budget deficit.
