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Ratings agency Moody’s downgrades Kenya’s debt

National Treasury building in Nairobi

Kenya will be spending Sh2 in every Sh10 to service interests on its debt, before settling salaries, pensions, spending on development or even paying the principle sum borrowed.

In 2013 when the Jubilee government took over, Kenya was paying Sh1 and 30 cents from every Sh10 collected by the Kenya Revenue Authority (KRA) to pay interests on its loans.

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