by Amruth Sundarkumar | Nov 10, 2022 | Sovereign Bonds, Sovereigns
Dollar bonds on Kenya rose by over 2-3 points yesterday after the IMF reached a staff-level agreement to release $433mn of funding for the nation. Once IMF’s review is formally completed, and approved, the IMF would provide $1.55bn in order for Kenya to “cover...
by Amruth Sundarkumar | Oct 20, 2022 | Sovereign Bonds, Sovereigns
Kenya is seeking to extend its repayment period for $5bn of loans that it had borrowed from China. The funds had been borrowed to build a new railway line, which is part of China’s Belt and Road Initiative and links Nairobi with the Mombasa port. The interest...
by Amruth Sundarkumar | Jun 28, 2022 | Sovereign Bonds, Sovereigns
The IMF board has delayed a $238mn loan to Kenya. While the board did not cite the reason for the delay, Bloomberg reports that the board meeting is only expected in the “coming weeks” to give final approval. The expected loan was part of a $2.34bn extended credit...
by Amruth Sundarkumar | Jun 24, 2021 | Sovereigns
The board of the International Monetary Fund has announced the immediate disbursement of a further $407 mn to Kenya after the first reviews of two agreements were approved in April. These include two new 38-month financing arrangements for Kenya valued at $2.34bn....
by Amruth Sundarkumar | Jun 1, 2021 | Sovereign Bonds
Kenya’s debt servicing costs are expected to soar towards KES 1.17tn ($10.9bn) as per the nation’s parliamentary budget office report. According to the report, this rise in debt accompanied by a lack of debt restructuring suggests increased debt default risk and...
