Business Daily | by Otiato Guguyu
Kenya will no longer take dollar-denominated syndicated loans arranged by commercial banks as part of the strategy to reduce the cost of debt and lengthen maturity to ease the payment burden.
Finance Cabinet secretary Ukur Yatani told the Committee on Finance and National Planning that the Treasury is implementing a new strategy to change the profile of Kenya’s debt from short expensive commercial loans into longer-dated sovereign bonds.
He said commercial loans would only come in the form of Eurobonds to…
