Kenya

Kenya is exploring the option of accessing capital markets to address the repayment of its USD 2 bln Eurobond due in June. Concerns among investors revolve around the country’s capacity to meet this obligation, given the high costs of food and energy imports and limited FX reserves. In related developments, the TDB has provided Kenya with USD 90 mln and an additional EUR 78 mln in syndicated loans, according to the treasury spokesperson. Moreover, the AfDB is preparing to disburse EUR 73 mln, pending approval from Kenya’s attorney general.