|Publisher||Council of Governors (CoG)|
|Year of Publication||2017|
...The County Debt Management Strategy (CDMS) Paper 2017focuseson legal framework that governs access to credit by the county government and discusses available sources of credit as enshrined in the Public Finance Management Act (PFMA), 2012. The CDMS will allow the County to seek long term funding either locally or internationally in order accelerate economic growth and development, as well as achieve stability. Debt levels must be lower than any thresholds stipulated in the PFMA, 2012. The PMFA 2012 clearly stipulates that external loans can only be used for financing capital projects. The main objective of public debt management is to ensure that the county governments financing needs and its payment obligations are met at the lowest possible cost over the short-to long run, consistent with a prudent degree of risk. This involves developing a strategic position to ensure that the servicing and management of countys financing requirements and payment obligations are met on a timely basis and at the lowest possible cost over the medium to long run.
|Tags||county, government, bomet, debt, strategy, paper, 2017, Bomet County Debt Strategy Paper 2017-2020, Public Finance|