RUTO sacks Head of Debt Management HARON SIRIMA and replaces him accordingly after contradicting him on Eurobond – Look!

Thursday, January 25, 2024 - The Director General of the Public Debt Management Unit at the National Treasury Haron Sirima has been fired.

This is after he contradicted President William Ruto over the repayment of the Eurobond money.

Sirima's exit was confirmed after the Public Service Commission (PSC), which oversees the hiring of civil servants, put out an advert inviting applications for various positions including Sirima's.

The PSC advert asked interested applicants looking to replace Sirima to submit their applications by February 13, 2024.

Although Sirima did not reveal why he had been fired, speculation is rife that his exit has been prompted by differences with the Kenya Kwanza administration over repayment of a Eurobond taken out by the Jubilee government. 

Kenya is racing against time to repay the Eurobond which matures in July 2024.

President William Ruto had on November 9, while giving a State of the Nation address, promised that half of the debt would be repaid by December 2023.

However, Sirima disputed the statement, giving his opinion that Kenya was not in a position to make half the payment within the timeframe that President Ruto had stipulated.

On December 28, 2023, the National Treasury, however, confirmed that it had paid $68.7 million (Sh10.8 billion) interest due on the $2 billion (Sh312 billion) loan. 

The development came one day after the government shelved plans to make an advance payment of the principal before the end of 2023.

The Kenyan DAILY POST.