The African Sovereign Debt Network, (AfSDJN), is delighted to announce the winners of its Essay Competition on “National Legal Frameworks for Debt Contracting, Prudent Management and Accountability in Africa.” The winners of this competition have been invited by the African Forum and Network on Debt and Development (AFRODAD) to present their winning papers at the second African Conference on Debt and Development (AfCoDD II) from the 24th to 26th August 2022. Their papers will also be published on Afronomicslaw.org.
External Debt Stock
The disclosures on Kenya's sovereign debt indebtedness so far indicate that there could very well be examples of hidden debt - particularly sovereign debt that may not be publicly or dully disclosed particularly to Parliament. This together with Kenya's increasing indebtedness means that Kenya's Parliament and civil society groups like the African Sovereign Debt Justice Network and OKOA Uchumi must carefully scrutinize as well as the 2021 National Debt Management Strategy Paper and all the accompanying disclosures. Kenya's Parliamentary Budget Office has recently noted that increased interest payments on debt have reduced spending on development and recommended rescheduling of domestic debt.