Kenya’s public debt position: evaluation of the effectiveness of the oversight role of parliament in public debt management

Abstract

This discourse examines the legal framework and oversight tools in order to assess the efficacy of Parliament's oversight of Kenya's public debt management. The study employs doctrinal legal research methodology with a focus on detailed assessment of the legal rules, legislation, and case law. The major findings of this research include, but not limited to, the shortcomings and challenges that hinder effective public debt management such as lack of public participation, delays in reporting, absence of ratification of loans procured by the Cabinet Secretary (CS) on behalf of the national government. The proposed ways to solve the foregoing legal abeyances include codifying public participation laws, civil education and awareness, capacity-building, and reinforcement of the enforcement authority of Parliament and the relevant committees. The study's findings have important implications for current and future efforts to improve public debt management and parliamentary oversight in Kenya. Through tackling the recognized deficiencies and executing the suggested remedies, decision-makers and interested parties can endeavor to augment openness, accountability, and long-term stability in the management of public resources.