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Thursday, April 8, 2021 -Kenyan government is planning to borrow another whopping sh 780 billion in Eurobonds despite having a worrying pubic debt.
These details played out at the International Monetary Fund IMF which disclosed plans by Kneyan government to bounce back into the international market for further loans.
Uhuru who has secured a staggering sh 255 billion loan from the IMF despite public uproar, will also be getting another sh 528 billion in concessional loans that will attract a longer grace period. The other sh 253 will be commercial loans which usually fetch a higher annual interest rates with short repayment plan.
IMF has observed that nothing can stop Kenya from borrowing more funds since the current loan programs allows them to do so.
Kenya is also planning to push its debt ceiling up from sh 9 trillion to a staggering sh 12 trillion through Parliament from January 2022. This will be to help finance their 2021/22 budget.
