How high borrowing costs compound Kenya's debt challenges

Moody's has sounded an alarm that the Kenyan government is currently battling sharply high borrowing costs. [iStockphoto]

Moody's has sounded an alarm that the Kenyan government is currently battling sharply high borrowing costs, which are worsening fiscal strains and limiting credit availability for private businesses.

This development confronts President William Ruto's government with a new challenge, as it struggles to fulfil promises to boost employment and incomes, with the economy still fragile and a general election now two years away.