MEFMI / World Bank Conduct DeMPA for Kenya

At the invitation of the Government of Kenya, the World Bank teamed up with MEFMI for a joint mission to Nairobi from 9th to 17th December 2014 to conduct a Debt Management Performance Assessment (DeMPA). The objective of the mission was to assess Kenya’s public debt management performance, focusing on identifying strengths and areas requiring improvement. The ultimate goal of the assessment was to establish a baseline for future reforms in public debt management.

The mission team comprised Ms Lilia Razlog from the World Bank and Team Leader, Messrs Raphael Otieno and Lekinyi Mollel (MEFMI), Messrs Michel Vaugeois and Peter Katz (World Bank Consultants) and Mr Baba Mohamadou from Cameroon on the World Bank Debt Management Practitioners Program. 

The mission conducted a comprehensive analysis of Kenya’s public debt management operations in line with the six core areas of public debt management functions, using the 15 Debt Performance Indicators of the DeMPA Tool. The approach was collaborative, involving holding interviews with key officials and teams, detailed discussions, and a review of key documents.

Debt management performance was benchmarked against international sound practices for effective debt management. The preliminary findings revealed strengths and weaknesses in different aspects of the Kenya’s public debt management. The mission team in agreement with authorities identified areas of public debt management that would require immediate attention.

While conducting the assessment, the mission met the Cabinet Secretary and Principal Secretary in the National Treasury of Kenya. The team also met senior officials from the National Treasury, Central Bank of Kenya, Attorney General, Controller of Budget, Auditor General and Office of the Internal Auditor. Interviews were held with technical staff in all departments involved with public debt management as well as representatives from financial markets. At the end of the mission, the mission presented its preliminary findings at a wrap-up meeting chaired by the Cabinet Secretary, Mr. Henry Rotich.