Kenya's foreign debt increases to over 3 trillion

In a period of six months this year, the Jubilee government acquired a foreign debt of Sh226 billion. With that, Kenya’s total foreign debt has reached over Sh3 trillion, the highest in the region. A document tabled before the National Assembly last week showed that during the six-month period, the country signed 18 loan agreements to finance various projects, including Sh60 billion from the Chinese ‘to ease the cost of doing business’ in the country, and a Sh20 billion syndicated facility to help revive Kenya Airways. The Treasury’s report was tabled just a month after the UN warned that Kenya is among African countries whose debt burden is unsustainable.

Kenya's foreign debt increases to over 3 trillion
Kenya’s foreign debt increases to over 3 trillion