Kenya’s appetite for debt has increased over the years, reaching slightly about Kes 6.33 billion in April 2020 according to the latest Statement of actual revenues and expenditures (Republic of Kenya, 2020). Publicly available data shows that by the end of February 2020, the government had borrowed about Kes 3.04 trillion from the domestic market and about Kes 3.12 trillion externally (CBK,2020).