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Ruto hits back at global rating agencies over credit downgrade

President William Ruto addressing the media in Nairobi on where he announced the lowering of fertilizer prices from Sh3,500 to Sh2,500. [Denis Kibuchi, Standard]

President William Ruto has defended his government's intention to buy back part of the $2 billion (Sh282 billion) Eurobond ahead of the June 2024 maturity date.

The plan has sparked negative sentiments with global ratings agency Moody's equating it to a default.

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