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Vol 65 No 4

Published 15th February 2024


Ruto gambles on Eurobonds

Nairobi's Treasury joins borrowers paying over 10% interest to meet escalating debt service demands

At the heart of the government's plan to issue US$1.5 billion of debt at 10.375% for a buy-back deal is President William Ruto's determination to avoid protracted debt restructuring negotiations with sundry creditors. In the short term, this answers worries that Kenya would not be able to meet a $2bn bond repayment due in June.

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