Kenya Weighs Selling Sovereign Dollar Bonds to Offset Growing Budget Shortfall
- Country is waiting for supportive conditions, Treasury says
- Kenya is looking for funds from concessional loans, Abu Dhabi
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Kenya plans to tap international investors and issue sovereign dollar bonds despite a recent increase in financing costs as it navigates a widening budget shortfall.
The country’s National Treasury said it is closely monitoring macroeconomic conditions before proceeding, adding that it believes there could still be a window for debt issuance regardless of the “increased cost of external commercial financing,” according to a report on its website.