Kenya: Govt Targets New Loans to Repay Old Ones
Photo source: All Africa
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As part of its debt management plan to alleviate burdens on principal repayments, Kenya will be taking new credits to repay Eurobond.

The NT says the country has a strong strategy for coping with Eurobonds that began to mature until 2024 last year. Kenya will soon return to the foreign markets for new loans to pay back the old ones in which the debt will be refinanced for the lifetime and taxpayer will only pay the interest.

“We have no issue with the Eurobond repayments because it is going to be rolled over and we have made provisions for servicing and also replacing,” Secretary Ukur Yatani said in an exclusive interview with the Sunday Community.

A debt policy entails rolling over when a country agrees to enter into a new arrangement with a lender to give the loan a new one to repay the first debt, instead of repaying the principal of a loan if it comes due.

Data source: All Africa news

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