The weighted average interest rate on Kenya’s new external loans rose to 4.6 percent in the year to June 2024 from 3.2 percent a year earlier, the highest going by the available records, reflecting the cost of refinancing the 2014 Eurobond at a higher interest rate.
This is the highest rate that Kenya paid for new external loans in a financial year for at least 15 years, as per available data from the National Treasury.
