Moody's Sends Warning to Kenya Over Debt

Kenya's public debt currently stands at over Ksh11 trillion...
✨ Key Highlights
Moody’s has issued a warning to Kenya regarding its ability to manage its high debt levels, highlighting potential risks associated with domestic borrowing.
- Kenya's public debt stands at Ksh11 trillion, with a debt-to-GDP ratio of 63%, significantly above the 55% limit.
- The agency emphasized that President William Ruto's government plans to borrow Ksh923.2 billion, with the majority coming from domestic sources.
- Moody’s suggests that without intervention, including securing a financing programme with the International Monetary Fund, Kenya may face difficulties in meeting its annual external debt repayments averaging $3.5 billion.
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