Hello

Your subscription is almost coming to an end. Don’t miss out on the great content on Nation.Africa

Ready to continue your informative journey with us?

Hello

Your premium access has ended, but the best of Nation.Africa is still within reach. Renew now to unlock exclusive stories and in-depth features.

Reclaim your full access. Click below to renew.

Subscribe for a month to get full access
National Treasury CS Ukur Yatani

National Treasury Cabinet Secretary Ukur Yatani.

| Salaton Njau | Nation Media Group

Finance and Markets

Premium

Debt-saddled Kenya gets a brief reprieve on loans

By  Otiayo Guguyu

Nation Media Group

What you need to know:

  • The National Treasury has not been able to raise enough revenues this year to meet the budget expenses as a result of the coronavirus pandemic.
  • Lower revenues mean budget shortfalls and more borrowing even as debt continues to grow out of control.

Kenya has been handed a Sh32.9 billion loan-repayment break by the Paris Club of international creditors from January to the end of June.

East Africa’s biggest economy has joined Tanzania, Uganda and Burundi who have taken the Paris Club freeze since it was announced in May last year.

Related

In the headlines