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Eurobond buybacks, loans lift debt service costs by Sh131bn
By the end of March, the Treasury had released Sh1.08 trillion towards payment of the public debt, leaving a balance of Sh956 billion to be cleared over three months to June.
Kenya’s public debt service cost for the year ending June has climbed by Sh131.58 billion, following the Treasury’s buyback of Eurobonds and Trade and Development Bank (TDB) loans in March.
This takes the debt service budget past the Sh2 trillion mark, as the government acts to avert debt pressure ahead. In the latest statement of revenues and exchequer issues, the Treasury raised the public debt service budget from Sh1.91 trillion to Sh2.042 trillion.
