IMF raises Kenya's risk of debt distress to high from moderate

The International Monetary Fund has raised Kenya’s risk of debt distress to high from moderate due to the impact of the coronavirus crisis, it said in an assessment published on Tuesday.

Kenya’s debt stood at 61.7 per cent of GDP at the end of last year, up from 50.2 per cent at the end of 2015, the IMF said, driven up by gaping budget deficits that were caused by large infrastructure projects such as a new railway line.