The new Sh210 billion Eurobond raised by Kenya on Wednesday is most expensive of all, putting to question the government’s promise on debt sustainability. ‘’Kenya selling new Eurobond, the third since 2014 to partly finance another bond which is due to mature in June. The country used part of its debut Eurobond to retire a $600 million (Sh60 billion) syndicated loan taken in 2012. The Treasury took a $1 billion (Sh100 billion) syndicated loan from a consortium of banks in March 2017, to mature in April 2019. Kenya’s public debt as a percentage of GDP has increased to 55 per cent from 42 per cent when Kenyatta took over.

Source: The Star May 17, 2019 01:52 UTC