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Vol 62 No 14

Published 8th July 2021


Digging deeper into debt

Debt and spending have mushroomed, but vested interests will fight attempts to rein in the elite’s cash cows

The Treasury's recent successful flotation of a billion dollars in Eurobonds signals that Kenya is not about to wean itself off a dangerous addiction to expensive commercial credit. It was Kenya's fourth issuance of a Eurobond in seven years, and the first for Treasury Secretary Ukur Yatani, the successor to Henry Rotich, the man who engineered the ruling Jubilee administration's expensive debt habit.

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