Looming risks as Kenya, Tanzania debt levels on the rise
Kenya’s Treasury Cabinet Secretary Henry Rotich on his way to parliament to present the 2017/2018 budget in March. The country’s borrowing costs are driving government indebtedness high. PHOTO FILE | NATION
Kenya took on more than $7.6 billion in debt over the past year to June 2017 as the country faced low growth prospects as a result of drought and a political impasse.
In the same period, Tanzania’s debt rose by $1.12 billion. The country’s external debt stock increased from $17.73 billion in the preceding quarter to $18.49 billion in June, largely on account of new disbursements.
