Kenya's economy could go to the dogs like Lebanon'sLebanon's economy is in parlous straits. The monthly inflation rate is at 147.55 per cent while food prices soared 395 per cent by January this year. Lebanon’s public debt has reached such levels that defaulting is a question of when, not if. Prime Minister Hassan Diab has announced that Lebanon will default on its foreign debt for the first time in its history. Kenya’s debt to GDP ratio is currently at 65 per cent against the recommended ceiling of 60 per cent for developing countries.

Source: Standard Digital June 02, 2021 03:00 UTC