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Kenya to Review Foreign Borrowing After Eurobond Questions

  • Political opposition alleged Eurobond proceeds went missing
  • Treasury says politicians are misreading government's accounts
Updated on

Kenya may review its foreign-borrowing plans after facing questions from the main political opposition party that funds from last year’s Eurobond sale had gone missing.

The government of East Africa’s biggest economy is wary of politicians “misreading” the Treasury’s accounts, hurting efforts to raise more debt on international markets, according to Kamau Thugge, principal secretary of the department. The Treasury has said it has evidence to show that all the money from the $2.75 billion bond is accounted for.