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Kenya shilling

Kenya has to raise its debt ceiling, finance ministry says
Markets

Kenya has to raise its debt ceiling, finance ministry says

  • Total debt stood at 7.3 trillion shillings at the end of last year, equivalent to 65.6% of GDP.
  • To accommodate the fiscal deficits in the financial year 2021/22 (July-June) and into the medium term, the statutory debt limit has to be expanded.
Published 12 Feb, 2021 06:29pm
Kenya to save 27bn shilling from China debt service suspension deal
Markets

Kenya to save 27bn shilling from China debt service suspension deal

  • The East African nation won a debt repayments relief agreement with the Paris Club of international lenders last week, and is looking for deals with non-Paris Club bilateral creditors like China.
  • We are now not going to pay immediately, but we are going to pay in the future.
Published 20 Jan, 2021 07:11pm