Private Document Indicates that Kenya is seeking about Sh150 billion in Loan, but Director-general Public Debt Management Office Denies The

Newscast - Africa

English - August 08, 2019 17:09 - 3 minutes - 3.26 MB
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An alleged private document is said to be circulating among banks indicating that Kenya is seeking 150 billion Shilling loan in tranches, at a rate of about 8.65 percent (London Interbank Offered Rate plus 645 basis points), equivalent to what Kenya recently secured for its longest maturity Eurobond of 30 years, yet the syndicated debt is to be paid back in six years.
However, it is reported that Haron Sirima who is the Director-general Public Debt Management Office and also former Central Bank (CBK) deputy governor denies any awareness of such a loan.

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