The Government Of Kenya Set To Borrow Another Eurobond Loan

The National Treasury Cabinet Secretary Ukur Yatani has said, the government is set to take another Eurobond loan totaling to Ksh124 billion.

It is said the borrowing is as a result of the increase in commercial financing shares that the government had projected would be manageable until June.

Kenya’s fourth Eurobond comes at a time when the CS has always tried to depend on loans that had favorable terms.

According to emerging reports, they indicate that cheaper loans the government was targeting have been exhausted leaving a shortfall of the Ksh124 billion to be borrowed.

Though the government is still hoping to get Ksh 78.8 billion from the IMF Rapid Credit Facility (RCF) and Ksh 82.5 billion from the World Bank Development Policy Operations (DPO), Kenyans should be on the lookout for external loans before the end of the 2020/2021 financial year.

The National Treasury data indicates that Kenya’s public debt will have hit sh 7.6 billion by end of June.

According to financial experts, Uhuru’s reign will end with huge debts that the coming government will find it challenging to clear.

1 Comment

*Enter your name

*2 characters minimum.

Do not change these fields following

Download our app from play store and get updates everyday for FREE. Press the button below.