• Advertise with Us
Wednesday, November 29, 2023
  • Login
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

Kenya to Refinance its Commercial Debt

Miriam WanguibyMiriam Wangui
January 7, 2020
in Kenyan News
Reading Time: 2 mins read
CBK Cash - Early Financial Literacy Can Transform Lives in Kenya

Kenya plans to replace its current commercial debt with cheaper debt from development financiers and ally nations, according to the acting Head of the National Treasury, Ukur Yatani. This aims to lower the high level of public debt which rose to 62% of the GDP in the past year.

There have been repeated warnings of mounting debt from the IMF and economists. The debt hit an all time high of KSh6 trillion in 2019. The Kenyan Government is determined to lower the government debt to manageable levels.

ADVERTISEMENT

However, the need to finance projects in healthcare, manufacturing, agriculture, and housing is expected to push the level of national debt upward. These projects are necessary to maintain an economic growth rate above 5%.

Public debt is expected to reach KSh6.7 trillion by the end of this year.

Since taking office in July 2019, the acting Minister of Finance, Dr. Ukur Yatani, has made changes aimed at reducing government expenditure. Some of the reforms are; limiting foreign trips for public officials as well as cutting expenditure on the international travels.

In an opinion piece published in the Daily Nation, Dr. Ukur Yattani revealed that the government intends to refinance the commercial loans with affordable concessionary debt.

Related:

Kenyan Government Has an Option to Re-Organise its Debt Portfolio – CBK

IMF Concerned about Africa’s High Debt Levels


Previous Post

Jacaranda Hotel Put Up for Auction

Next Post

Banking Stocks Boost Trading at NSE

Related Posts

exim bank india

India Exim Bank to Set Up in Kenya

November 29, 2023
Phone calls

MPs Push for More Cuts in Mobile Call Rates

November 29, 2023

Shilling’s Drop, Tough Environment, Trigger More Profit Warnings

November 29, 2023

Kenya Re-adjusts Budget to Address El-Nino Effects

November 28, 2023

Court Declares Housing Levy Unconstitutional

November 29, 2023

Lethargic Sugar Sector Gets Lifeline as COMESA Issues Another Two-year Safeguard

November 29, 2023

Scangroup Joins List of NSE Firms Issuing Profit Warnings

November 29, 2023

Why Government is Selling KICC, 10 Others

November 29, 2023
Load More
Next Post
NSE NUMBERS 1

Banking Stocks Boost Trading at NSE

Follow Us

  • 167.4k Followers
  • 4.1k Subscribers
  • 1.2k Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Featured

No Content Available

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • Advertise with Us

Copyright 2023. The Kenyan Wall Street LTD. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2023. The Kenyan Wall Street LTD. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In