Kenya defers $699m loan repayments as debt pressure high
Police officers on guard at Kenya's National Treasury. Kenya failed to meet Sh84.6 billion ($695.4 million) debt repayment obligations in the year to June due to a cash crunch and instead carried over the payments to the current fiscal year. PHOTO | FILE | NMG
Kenya failed to meet KSh84.6 billion ($695.4 million) debt repayment obligations in the year to June due to a cash crunch and instead carried over the payments to the current fiscal year.
The public debt rose to KSh8.6 trillion ($70.7 billion) adding more burden on service costs, with more than KSh945 billion ($7.8 billion) used to pay domestic and external lenders in the 2021/22 financial year.
