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.”
