Browsing: Public debt

• Kenya’s bilateral loans data show that the Asian giant is still a major lender to Kenya mainly for the development of roads rails and port infrastructure.
• The country’s debt as of March 2024 comprised of $80.9 billion (Sh10.4trillion) comprising $40.5 billion (Sh5.2 trillion) domestic and same amount in external loans.
• In the past three months the strong shilling has come in handy in helping the state reduce its debt.

Kenya owes China $7.2 billion (Sh920.52 billion) in loans making it the leading lender by country rankings, even as President William Ruto looks west for more financing and trade cooperation.

Official data shows the Asian giant is still a major lender to Kenya mainly for the development of roads rails and port infrastructure.

It is the second biggest majorl lender after the World Bank, whose credit line to Kenya is currently at an estimated $14 billion (Sh1.8 trillion)

The country’s debt …

• Kenya’s economic resurgence in 2024 proving a reality following a notable upturn in recent months, marked by positive indicators across sectors.
• According to CBK, leading indicators point to the continued strong performance of the Kenyan economy in the first quarter of 2024.
• According to the World Bank, Kenya’s economic growth is projected to be 5.2 per cent, boosted by increased investment in the private sector as the government reduces its activities in the domestic credit market.

A strong rebound

Kenya’s economic prospects are looking brighter, attributed to the interventions by the World Bank and the International Monetary Fund, which have played a massive role in easing volatility witnessed less than three months ago.

Major economic indicators in the country show that confidence is slowly creeping back after the government secured the International Monetary Fund’s facility to pay back the Eurobond.

The repayments had triggered volatility in financial markets, including the …