Moody’s upgrades Kenya’s sovereign credit rating to B3 on the back of decline in near-term debt default risk
The ratings agency further underscored Kenya’s stronger external liquidity, significantly higher foreign exchange reserves that stand at $12.2 billion, according to the Central Bank, and a narrower current account deficit.
Risky borrower: Kenya sprucing up image in financial markets as its public debt soars to $92.5 billion
To institutionalise the process, the Treasury will establish a government-resourced Credit Rating Committee to coordinate Kenya’s approach, supported by partners including UNDP, the gvernment of Japan, AfriCatalyst and the African Peer Review Mechanism (APRM).
Kenyan president among world leaders to be taxed for using private jets or first class
UN chief Antonio Guterres said the Seville meeting aimed “to repair and rev up” a world system where “trust is fraying and multilateralism is strained.”
Kenya’s finance minister sets aside Ksh47.6 billion for agriculture in Ksh4.29 trillion budget
In order to promote livestock production, the cabinet secretary further proposed, Ksh2.3 billion for de-risking, inclusion and value enhancement of pastoral economies programme, Ksh1.6 billion for Kenya livestock commercialization programme and Ksh280 million for the livestock value chain support project.