Kenyans Pay Kes.1.6 Trillion in 2023-24 to Service Debt, Taking Up 68% of Revenue
Kenya’s external debt payments in the financial year ending June 2024 reached Kes.756 billion, as the government sought to limit its domestic borrowing. This increased demand for foreign credit came as domestic borrowing squeezed private sector access to financing. A significant driver of the surge in external debt payments was the maturity of a $2…