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Kenya's Treasury mulls fresh bond issue as it seeks Sh152b to patch budget deficit

Treasury Cabinet Secretary Henry Rotich reads the Budget speech in Parliament in June. The country’s financing gap currently stands at 9.6 per cent of GDP, up from 7.2 per cent last year. [PHOTO: FILE/STANDARD]

Kenya is considering taking up a syndicated loan or issuing a sovereign bond to raise as much as $1.5 billion (Sh152 billion) to finance the budget deficit.

American-based news agency Bloomberg has reported that the National Treasury is likely to tap into the international markets in the next three months and has invited banks to submit proposals on how it can raise the said amount.

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