KENYA: CREDITOR CONCERNS OVER DEFAULT SCENARIO ARE PREMATURE OR UNFOUNDED

KENYA: CREDITOR CONCERNS OVER DEFAULT SCENARIO ARE PREMATURE OR UNFOUNDED

   Tue, 25 April 2023

International creditor concerns over a Kenyan default scenario are premature, while local banks’ reluctance to lend to the sovereign may be misplaced. Kenya is enjoying unprecedented financial support from multilaterals and other lenders, while there remain multiple options for the reprofiling of existing debt. Kenya’s main crunch point will come in June 2024, by when it will probably have redeemed a USD 2 billion Eurobond maturity. In the short term, the resumption of opposition protests may weaken economic prospects.



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