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Complicated, even contradictory messages have been popping out over the previous week about Kenya’s debt sustainability. On the one hand, the Treasury is reporting that debt servicing obligations have fallen by $634 million, together with to the China Exim Financial institution, attributable to deferrals and repayments by the nation’s embattled parastatal firms.
But, however, the top of African analysis at Normal Financial institution, Jibran Qureishi, included Kenya on his “fragile 5” record of the continent’s most susceptible main economies to debt dangers. Qureishi’s major concern is that debt servicing prices are consuming into Kenya’s overseas trade reserves.
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