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The International Monetary Fund (IMF) has endorsed Kenya’s plan to borrow Eurobond loans of up to Sh508 billion, which President Uhuru Kenyatta’s government plans to use to repay other expensive loans.
Besides using the money to rollover maturing loans, Kenya is also expected to use this cash to fund high-yielding infrastructure projects in what is aimed at preventing a repeat of the speculation that surrounded the first Eurobond.
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