Why does the Government of Kenya incur Public Debt? What is the current debt status of the country?

(a) All borrowings are done through the Cabinet Secretary, and are for the following purposes:
a) Financing government budget deficits;
b) Honoring obligations under national government guarantees;
c) Refinancing and pre-financing existing debts;
d) For cash management;
e) To finance development projects including on-lending to approved entities;
As of the end of June 2020, Kenya’s total debt stock stood at 6.7 trillion Kenyan shillings ($62 billion), equivalent to about 66 per cent of our total national wealth, as estimated by the gross domestic product (GDP)