×
App Icon
The Standard e-Paper
Kenya's Bold Newspaper
★★★★ - on Play Store
Download Now

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.

Get Full Access for Ksh99/Week
Uncover the stories others won’t tell. Subscribe now for exclusive access

Subscribe Today & Save!

  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in