Kenya’s debt surpassed the ten tln shilling mark, driven by a surge in new loans. The total debt stood at 10.19 tln shillings in June, split between 52.6% external and 47.4% domestic loans. External loan disbursements and FX rate changes contributed to the rise. The country’s debt management office set a debt threshold of 55% of GDP in present value. Notably, China accounted for 27% of Kenya’s foreign debt servicing in the fiscal year ending June 2023.