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Kenya receives Sh100 billion debt in March to repay foreign banks

[Photo: Courtesy]

Treasury borrowed Sh100 billion from a syndicate of banks, pushing up Kenya’s share of costly commercial loans, even as it plans to issue its third Eurobond before June.

Latest Statement of Actual Revenues and Net Exchequer Issues by Treasury indicates that commercial loans borrowed by the end of March increased four-fold to Sh100 billion, up from Sh25 billion in February.

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