Economics

Kenya to Borrow $12.4 Billion Abroad by June 2022, IMF Says

Seeks $7.3 million Eurobonds, $4.8 billion concessional debt
Kenya is at high risk of debt distress, according to IMF

Kenyan Economy as Country Seeks $2.3 Billion IMF Loan — Photographer: Fredrik Lerneryd/Bloomberg

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By David Herbling

April 7, 2021 at 10:18 AM UTC

Updated on

April 7, 2021 at 1:27 PM UTC

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Kenya plans to borrow $12.4 billion between now and June 2022 from foreign sources, the International Monetary Fund said in a report detailing terms and conditions of a separate $2.34 billion financing package approved by its board last week.