Kenya may join nations at risk of default on external debt

President Uhuru Kenyatta displays the new coins that will go into circulation. [File, Standard]

Kenya is at risk of defaulting on its external loans, with the World Bank comparing it with countries that are highly indebted.

In its latest statistics on external debt, 2019, the global lender has noted that Kenya’s future debt service payments will rise steeply in the next three years, the same way Ghana’s, Zambia’s and Ethiopia’s did. The three are teetering on debt default.