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President William Ruto's administration is now facing a fresh headache in the form of higher borrowing costs after a third global rating agency downgraded Kenya's credit rating in as many months, further limiting the country's options for financing its growing debt obligations.
The latest downgrade by S&P, which cited concerns over the government's fiscal consolidation efforts and mounting debt levels, comes at a precarious time for the administration. Ruto is grappling with the fallout from protests over his economic policies, which have eroded public trust and undermined his agenda.
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