The head of Kenya’s public debt management office within the finance ministry is set to step down from his role in the next two months, according to a report by the Business Daily newspaper on Thursday.
Haron Sirima Bio, who has led the office since 2018, plays a crucial role in overseeing Kenya’s management of Eurobond issuances.
Expressing his decision, Sirima Bio stated, “My tour of duty has come to an end. I need to give way to young blood. I have a couple of months to go awaiting recruitment of a new director,” as reported by the Business Daily.
The Public Service Commission, responsible for civil service recruitment, has initiated the search for applicants to fill Sirima’s position.
As Kenya grapples with acute liquidity challenges, particularly related to uncertainties surrounding the access to funding from financial markets before the maturity of a $2 billion Eurobond in June, the departure of the head of the public debt management office adds significance to the ongoing financial dynamics.
While there has been no immediate comment from the debt office regarding Sirima’s departure, an advertisement has been released by the Public Service Commission to seek suitable candidates for the position.
The head of an International Monetary Fund mission to Kenya recently stated that the fund does not anticipate Kenya defaulting on its Eurobond payment.