Last-minute move save country from debt hole Sh10.8b Financial abyss

Treasury Cabinet Secretary Njuguna Ndung'u. [Wilberforce Okwiri, Standard]

The government sidestepped an economic landmine after settling a crucial instalment on one of its maturing international bonds through a last-minute interest payment.

The National Treasury told jittery investors on Thursday evening that it had made a Sh10.8 billion "coupon" payment for the $2 billion (more than Sh312 billion) Eurobond ahead of the last international banking working day.

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