IMF raises Kenya’s debt risk to medium but remains cautious
Motorists driving on one lane of the Makupa Causeway as construction of the highway started. Kenya's medium-term growth prospects remain favourable, supported by infrastructure investment and an improving business environment. FILE PHOTO | NMG
The International Monetary Fund has raised Kenya’s debt risk to moderate, citing the country’s increasing refinancing risks and tighter safety margins.
In its latest staff review released last Tuesday, the Washington-based lender estimates that East Africa’s largest economy will see its total public debt peak at 63.2 per cent of GDP this year before gradually declining to 58.2 per cent next year.
