Kenya's Public Debt Soars By $2 Billion in Six Months
The Central Bank of Kenya's report shows that external loans went up by U.S.$1,6 billion between July and December 2018, significantly outpacing the U.S.$700 million increase in domestic debt. The quick build-up of debt has raised questions over its sustainability, especially on the external loans which must be repaid in U.S. dollars and other foreign currencies.
One intriguing clause in the contract reportedly says any disputes on the loan would only be resolved in Beijing through the China International Economic and Trade Arbitration ... Read more »
President Uhuru Kenyatta has vigorously defended the country's acquisition of loans from China, telling CNN that the debt has been used to plug an infrastructural gap that in the ... Read more »
Kenyans urging President Uhuru Kenyatta to sign the Finance Bill 2018 amendment that will halt the introduction of 16% fuel levy have descended on him via Twitter for celebrating ... Read more »