Repayments to the first Eurobond will cost taxpayers more than Sh97.71 billion in financial year starting next month, Treasury statistics show, underlining the pain of growing reliance on external borrowing for infrastructure development.
Treasury secretary Henry Rotich has budgeted for Sh78.303 billion to clear the first $750 million (Sh75.75 billion under prevailing exchange rates) portion of the debut Eurobond bond, which matures in the year ending June 2019, and further Sh19.41 billion towards interest servicing of the entire facility.
