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  2. www.nytimes.com › kenya-tax-protests-debtBehind the Deadly Unrest in Kenya, a Staggering and Painful ...

    Jun 26, 2024 · I.M.F. lending to the troubled East African nation now totals $3.6 billion. The type of debts that are causing misery in Kenya can be found across Africa. More than half the people on the...

  3. www.aljazeera.com › news › 2024/7/7What do the IMF and foreign debt have to do with Kenya’s ...

    Jul 7, 2024 · What is the debt situation in Kenya? When Ruto entered office in August 2022, Kenya was already in a crisis. Its external debt was about $62bn, or 67 percent of its gross domestic product.

    • Shola Lawal

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  5. nation.africa › kenya › businessHow Kenya's debt ballooned by Sh860bn in six months ... - Nation

    Apr 7, 2024 · Kenya’s public debt stock ballooned by Sh860 billion within six months as it exceeded the legal limit, a report tabled in Parliament by the Office of the Controller of Budget (CoB) shows.

  6. www.chathamhouse.org › 2023 › 05Kenya’s debt struggles go far deeper than Chinese loans

    • China’s Loans Are only One Problem
    • Kenya Exposed to Pressures Beyond Its Control
    • Debt Distress Driven by Poor Domestic Decisions

    At $6.3 billion as of March 2023according to Treasury figures, Chinese loans account for roughly 64 per cent of Kenya’s current stock of bilateral external debt and only 17 per cent of total external public debt. Multilateral borrowing is almost double the bilateral total, with the World Bank being Kenya’s largest single external creditor. Chatham ...

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    IMF managing director Kristalina Georgieva described Kenya as an ‘innocent bystander’ in the face of external shocks, the considerable pressures it faces from external lenders such as China, and its position within a volatile global financial environment. Chinese SGR loans are dollar-denominated and two have floating interest rates, set at either 3...

    See full list on chathamhouse.org

    Although the repayment of the SGR loans has been onerous, there should have been far greater concern about the railway’s inflated construction costs and its consistent failure to generate revenue despite government intervention to mandate cargo traffic. This is a legacy of poor Kenyan decision-making and a planning process driven more by short-term...

    See full list on chathamhouse.org

  7. www.usip.org › publications › 2024Kenya’s Crisis Shows the Urgency of African Poverty ...

    Jun 27, 2024 · Kenya’s domestic and foreign debt now reach $80 billion, approximately 70% of its entire gross domestic product. Debt repayments now eat nearly half of the government’s budget, crimping the country’s ability to sustain the necessary development projects for growth.

  8. theconversation.com › kenya-could-run-out-of-moneyKenya could run out of money to repay massive debts: how to ...

    Sep 17, 2024 · In this article, I explore possible effects of unsustainable public debt and some ways through which Kenya could mitigate a sovereign debt default.

  9. www.bbc.co.uk › news › world-africa-56651735Letter from Africa: Kenyans protest over growing debt - BBC

    Apr 7, 2021 · When the current government took over in 2013 public debt stood at $16bn, it is now around $70bn - more than four times as much. Some of that can be put down to the launching of big...