Kenya skips G-20 debt payment deal

budget, treasury, public borrowing


People Daily | by John Otini


Kenya failed to take advantage of a more comprehensive debt payment pause offered by the Paris Club and G20 despite its biting debt problems, global rating agency S&P has warned.

Common Framework for Debt Treatment (CFDT) is a comprehensive arrangement over and above the first Debt Suspension Service Initiative (DSSI), which Kenya had earlier ignored, but later gave in to International Monetary Fund (IMF) pressure.

The new comprehensive arrangement had been designed to be country specific and would also involve the private sector including Eurobond holders…

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