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Parliament to discuss Kenya’s debt Ceiling

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Parliament is this afternoon expected to debate the fate of law capping interest rates, a move that will determine whether borrowers will continue enjoying a free market regime. President Uhuru Kenyatta had in a memo last month recommended the removal of the caps saying it had led to a credit squeeze in the market pushing many SMEs out of business. The house will also vote on whether to raise Kenya’s debt ceiling to nine trillion shillings, to enable the country complete some projects.

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