Kenya forced to borrow $750 million to repay loans from four banks
Kenya’s Treasury Cabinet Secretary Henry Rotich on his way to parliament to present the 2017/2018 budget in March. Mr Rotich had indicated that the loan will be repaid by funds from another Eurobond. PHOTO FILE | NATION
Kenya has been forced to borrow $750 million to assuage fears by lenders about the country’s ability to service its mounting debt.
The loan from the Trade and Development Bank — formerly PTA Bank — is reflected in the latest Quarterly Economic and Budgetary Review for the period ending September 30, 2017, which was released in November.
