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Kenyans have a heavy burden to shoulder in repaying an external debt that amounts to Sh3.7 trillion. The truth is that the National Treasury will have a rough time servicing this debt under the prevailing circumstances.
Disruptions caused by the Covid-19 pandemic have had a negative effect on our economic performance. International lockdowns following attempts to stop spread of coronavirus put a lid on our exports and had a dampening effect on the tourism sector that led to an exponential drop in our foreign exchange earnings. In addition to that, job losses and company closures meant the economy would suffer serious setbacks for a long time.
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