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Kenya: public debt rises to US$72.2bn

mm by RMB Africa Research
July 18, 2022
in News
Reading Time: 1 min read
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Kenya: Kenyatta approves US$141m fuel subsidy to cushion consumers from price hikes

Uhuru Kenyatta Source: All Africa

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National Treasury, in its monthly bulletin, reported that Kenya’s public debt rose to KES8.56trn (US$72.2bn) or 69.1 percent of GDP by the end of May from KES8.47trn in the month prior. Domestic debt was KES4.27trn, or 34.4 percent of GDP, while external debt was KES4.295trn or 34.7 percent of GDP. Meanwhile, external debt denominated in dollars, euros, yen, yuan and pounds was 67.9 percent, 18.6 percent, 5.7 percent, 5.3 percent and 2.3 percent, respectively. National Treasury added that “a currency diversification is ongoing in order to mitigate against exchange rate risk on external debt.”

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