The National Treasury in a statement released on Thursday explained the plans for repayment of the Ksh315 billion (USD2 Billion) Eurobond, borrowed from the European money market back in 2014. In the statement, it was indicated that Kenya would not make a Ksh150 billion repayment as earlier promised by President William Ruto. The Treasury stated that it had only made a payment of Ksh10.8 billion which was interest for the 2014 acquired Eurobond. Photo National Treasury“Recently, Kenya successfully executed a payment of USD68.7 million (the equivalent of Ksh 10.8 billion) in interest, a necessary instalment on the USD2 billion Eurobond,” the statement read. This statement comes days after neighboring Ethiopia defaulted on paying the interest fee on its USD1 billion Eurobond.

Source: Daily Nation December 29, 2023 08:44 UTC