Kenya’s external debt balloons by $2.58b on weak shilling
A Nairobi resident passes near Central Bank of Kenya. The bank has released data showing that Kenya's total external debt as of January 2023 stood at $37.63 billion. PHOTO | FILE | NMG
Kenya’s external debt has ballooned by a staggering KSh344.4 billion ($2.58 billion), giving dimension to the impact of a weakening shilling whose exchange rate against the greenback has tanked to a historic low of KSh133.55.
The Central Bank of Kenya (CBK) data shows that total external debt as of January stood at $37.63 billion (KSh4.7 trillion), where the mean exchange rate was 124.4 against the dollar.
