Public Debt in Kenya

An Economic History

Aaron Thegeya

$112

Hardback

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English

Routledge
14 July 2025

Macroeconomics; Development economics; Political economy; Economic history; Public finance accounting

Series: Routledge Studies in Development Economics

Public debt in developing economies has increased dramatically over the last 20 years, with debt repayment obligations putting the livelihoods of millions of individuals at risk and threatening to stall progress toward lowering poverty rates and achieving long- term development objectives across many countries, especially in sub-Saharan Africa. Debt fragility is a systemic issue that affects many countries spanning different continents, regardless of the idiosyncratic nature of each country’s system of government and drivers of growth. Kenya is one of these fragile economies, currently classified as an economy at high risk of default.

This book gives a historical economic account of public debt in Kenya, dating back to the late 1800s. It describes the key episodes and events that resulted in the accumulation of debt and gives an intuitive understanding of the economic dynamics of debt during the precolonial, colonial, and postcolonial periods in Kenya’s history. Existing studies on Kenya’s public debt are either not comprehensive, choosing to focus on a narrow period, or are technical empirical analyses, rendering them inaccessible to a large audience. By describing the dynamics of public debt in Kenya, the book increases familiarity with a topic that has important implications for Kenya, and which has occupied a central stage in Kenya’s policy debates in the recent past.

History shows that contagion from economic crises is not unique and isolated to individual nations, thus the book is relevant not only for policy debates in Kenya, but also for other low- income and emerging economies within sub- Saharan Africa.

By: Aaron Thegeya
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 216mm, Width: 138mm,
Weight: 560g
ISBN: 9781041091646
ISBN 10: 1041091648
Series: Routledge Studies in Development Economics
Pages: 150
Publication Date: 14 July 2025
Audience: College/higher education , Primary
Format: Hardback
Publisher's Status: Active

Aaron Thegeya is an economist who obtained his Ph.D. in economics from the University of Oxford as a Rhodes Scholar. He was Senior Economic Advisor to the Deputy Chief of Staff, Executive Office of the President of Kenya, and has worked as an economist at the International Monetary Fund and the World Bank.

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Public Debt in Kenya

An Economic History

Aaron Thegeya

$112

Hardback

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