By BUSINESS DAILY More by this AuthorKenya has started talks with the International Monetary Fund (IMF) and other development financial institutions for a new loan to help it settle the $2.0 billion (Ksh297.6 billion) Eurobond whose repayment is due in June 2024. The fund extended Kenya’s programme by 10 months to lapse in April 2025. The Central Bank of Kenya (CBK) has indicated that the government is leaning more towards tapping into concessional financing to settle the maturing obligation. This comes at a time global investors are seeking more than 18 percent return to invest in Kenya’s Eurobond, signalling increased perceptions of a sovereign default. Kenya has repeatedly reassured investors that it will refinance the debut 10-year Eurobond, ruling out the possibility of a sovereign default.

Source: Daily Nation October 11, 2023 17:43 UTC