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Pain for borrowers as CBK ends repayment holiday

Central Bank of Kenya Governor Patrick Njoroge. [David Gichuru, Standard]

The Central Bank of Kenya (CBK) yesterday threw borrowers into the shark-infested deep sea after it ended the emergency measures that had allowed them to restructure their loans.

This means the one-year holiday in which borrowers got reprieve, some of who lost their jobs, have ended and banks are at now liberty to book their loans as non-performing and subsequently go after their securities if they continue defaulting.

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