Kenya is now seeking the assistance of the US government to navigate through its cash crisis by accessing cheap loans from the global financial markets.
Nairobi is seeking a sovereign loan guarantee from Washington that would provide Kenya with access to financing from international capital markets at significantly lower rates.
In February, Kenya sold a new $1.5 billion Eurobond at great cost to fund the buyback of a large portion of the $2 billion bond, which is maturing in June 2024.
