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Kenya Lawmakers Approve Proposal for Debt Limit of $86 Billion

General Economy As Kenya Faces Bleak 2018 Outlook In Vote Aftermath
Photographer: Luis Tato/Bloomberg

Kenyan lawmakers approved a proposal by the Treasury to set the nation’s debt limit at 9 trillion shillings ($86 billion), National Assembly majority leader Aden Duale said Wednesday by phone.

The proposal requires the government to report the East African nation’s level of debt in absolute figures and not as a percentage of the gross domestic product currently. The previous debt limit was set at 50% of GDP.