|Publisher||Council of Governors (CoG)|
|Year of Publication||2015|
The Public Finance Management Act 2012 section 123 (1),Provides that the County Treasuryshall submit to the County Assembly a statement setting out the Debt Management Strategyof the County Government over the medium term clearly showing its actual liability inrespect of loans and its plan for dealing with those liabilities.The Debt Management Strategy Paper (DMSP) 2015 provides guidance to Kisii CountyGovernment (KCG) on the amount and type of borrowing to undertake over the mediumterm. It evaluates the costs and risks of various debt management strategies and providesrecommendations on optimal strategy for implementation since it will have an impact onfuture borrowings.The 2015 County Debt Management Strategy Paper outlines priorities that will assist in thefinancial risk reduction. It is for this reason that the Kisii County Government recognizes theneed for prudence in debt management so as to avoid unwarranted financial risks thatemanating from poor debt management strategies. The County is employing significantefforts and resources to ensure improvement in the debt management as well as enhancingcapacity of assessing risks.The Kisii County Governments debt will only realize sustainability if a prudent debtmanagement and borrowing policy is adopted by the Government. However it is worth notingthat there is no borrowing envisaged in the near future.
|Tags||kisii, kisii-debt-management-strategy-paper, Public Finance|