Kenya’s debt costs to remain high due to local borrowing, Moody’s says
A view of the Nairobi Expressway, developed by China Road and Bridge Corporation (CRBC) under a public-private partnership (PPP), in Nairobi, Kenya, on May 8, 2022.
Kenya’s cost of servicing its debts is expected to remain stubbornly high, ratings agency Moody's said on Wednesday, as the government leans on the domestic debt market to fund its budget shortfalls.
The East African nation has one of the highest debt interest costs to revenue ratio in the world, Moody’s said, and spends a third of government revenue on settling interest payments.
