Ruto faces return of costly foreign loans in first year

The Treasury has said Kenya will find it challenging to sustain reliance on multilateral lenders like World Bank Group for external funding, signalling a return of costly foreign loans in the first year of the new administration.

Kenya has in the past three financial years largely tapped cheaper concessional loans, helping slow down the accumulation of expensive short-term foreign commercial credit and loans from rich countries which largely come on semi-concessional terms.