Kenya to issue bonds of $3.5bn to repair ailing infrastructure
However, there is concern that Kenya is amassing too many loans with the IMF changing its risk of external debt distress to moderate from low
05 December 2019 - 18:29
Nairobi — Kenya will issue bonds of as much as 360-billion shillings ($3.54bn) to develop roads and repair an infrastructure network neglected from years of running a budget deficit in East Africa’s biggest economy.
The plans come amid growing concerns that Kenya is accumulating more loans than it can afford. In 2018, the International Monetary Fund (IMF) raised its assessment of the nation’s risk of external debt distress to moderate from low and estimates public debt by the end of December will be equal to 59.9% of GDP...
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