REFERENCE NO. 24 OF 2021 PEASANT LEAGUE LIMITED AND ANOTHER v. THE ATTORNEY GENERAL OF REPUBLIC OF KENYA & THE SECRETARY GENERAL OF THE EAST AFRICAN COMMUNITY

The Applicants allege that as a result of the 1^st Respondent’s actions of borrowing loans from IMF and other institutions,  a total  Public Debt ceiling which  has risen exponentially to about 65.8% of the GDP in 2019/2020 financial year and it is approximated to hit about 70.4% of the GDP by the end 2020/2021 financial year, is in contravention of the public debt ceiling of 50% of GDP in net present terms set under the EAC Monetary Union , for the 2^nd Respondent , the applicants aver that the Council has failed to develop measures to regularly monitor, assess and enforce adherence to macroeconomic convergence criteria and foster fiscal discipline in the Partner States thus breaching Article 6(3) of the EAC Monetary Union Protocol and Article 6(d) and 7(2) of EAC.