Borrowing by national government
Parliament may set the terms on which the national government borrows and require reports. If either House asks, the finance Cabinet Secretary must, within seven days, give a committee details of any loan or guarantee, including total debt and how the money is used.
The official text
(1) Parliament may, by legislation—
(a) prescribe the terms on which the national government may borrow; and
(b) impose reporting requirements.
(2) Within seven days after either House of Parliament so requests by resolution, the Cabinet Secretary responsible for finance shall present to the relevant committee, information concerning any particular loan or guarantee, including all information necessary to show—
(a) the extent of the total indebtedness by way of principal and accumulated interest;
(b) the use made or to be made of the proceeds of the loan;
(c) the provision made for servicing or repayment of the loan; and
(d) the progress made in the repayment of the loan.
Summaries and answers are a plain-English guide written by Iam254, not legal advice. The official text is what counts. Official text: Constitution of Kenya, 2010, Kenya Law (National Council for Law Reporting), legislation as at 3 September 2010. It has not been amended since.