Kenyan taxpayers paid $1.53 billion (Sh197.4 billion) in interest on the 2014 Eurobond whose last instalment was repaid last Friday, underlining the heavy cost of reliance on commercial debt to fund the budget.
The interest paid is the equivalent of 55.6 percent of the $2.75 billion (Sh354 billion in Monday’s rate) that the Treasury borrowed in the debut sovereign bond in June 2014.
