Treasury ditches Eurobond for IMF and World Bank loans

National Treasury Cabinet Secretary Njuguna Ndung'u. [Edward Kiplimo, Standard]

Kenya has retreated from plans to borrow money from the international markets through issuance of a sovereign bond, citing the current high cost of borrowing.

The government had planned to raise money through a Eurobond issue, which would have been the fourth in eight years, to help pay off part of its debt obligations.