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Prime
Kenya to swap Eurobond for food in Sh129bn deal
Treasury Cabinet Secretary John Mbadi gestures during an interview with Reuters where he says Kenya has started talks with IMF for a new program, in Nairobi, Kenya, February 5, 2025.
The Treasury will use proceeds from a Sh129 billion ($1 billion) debt-for-food security swap to make early repayments on outstanding Eurobonds to ease Kenya’s heavy debt burden.
The Public Debt Management Office (PDMO), a directorate of the Treasury, says it will use proceeds from the debt swap to retire early costly sovereign bonds that are maturing from 2031.
