Kenya has started talks with the IMF and other development financial institutions for a new loan to help it settle the $2.0 billion Eurobond whose repayment is due in June 2024. The government is leaning to the multilateral institutions following tightness in the global markets which has rendered the issuance of fresh debt to refinance maturing debt an improbable route to settle the maturity which is eight months away. President William Ruto’s recent speech during the United Nations General Assembly calling for debt restructuring for developing countries has raised fears among investors over Kenya’s ability to refinance its fast-maturing external repayments.
Source : Business Daily Africa
