Kenya: Govt to Settle U.S.$300 Million of U.S.$2 Billion Eurobond Next Month

Nairobi — The government intends to pay $300 million of the $2 billion Eurobond in December that is due for payment in June 2024. It comes at a time when local currencies have been facing immense pressure from major global currencies like the American dollar as well as mounting debt repayments. “Next month in December we will be able to settle the first Kshs 300 million dollars or 500 billion installment of the US dollars 2 billion Eurobond debt that falls due next year,” said President William Ruto while addressing the State of the Nation address in Parliament today. The head of state added that “I can now confirm with confidence that we will and we shall pay the debt that has become a source of much concern to citizens, markets and our partners.”