Bad borrowing habits come to haunt Kenya

Moody’s review comes at a time when Kenya’s revenues have been eroded by the Covid-19 pandemic. [Stafford Ondego, Standard]

A global agency Moody’s yesterday changed the outlook of Kenya’s credit worthiness to negative, citing the country’s massive debt obligations.

By changing the outlook from stable to negative, the US-based rating agency has essentially raised a red flag on the possibility of Kenya defaulting on its debt.