IMF bumps Kenya's debt distress risk to moderate from low

CS Henry Rotich for Treasury

Kenya’s risk of defaulting on debt repayments has increased to moderate from low, the International Monetary Fund (IMF) has said, citing the government’s public investment drive and revenue shortfalls in recent years.

The Washington-based lender forecast Kenya’s total public debt will reach 63.2 percent of economic output or GDP this year then begin declining. Public debt was 58 percent last year and 53.2 percent in 2016.