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Treasury reveals plan to settle Sh298bn Eurobond
The World Bank Regional Vice President Ms Victoria Kwakwa, the World Bank Managing Director, Ms Anna Bjerde and the National Treasury and Economic Planning Cabinet Secretary after a Bilateral Meeting where the CS requested for enhanced allocation for Kenya during the International Development Association (IDA) 20 cycle. PHOTO | POOL
The government now says that plans to issue fresh debt in the international capital markets to aid in settlement of the $2 billion (about Sh298 billion) Eurobond maturing in June will only be complementary to tapping into concessional financing from multilateral institutions such as World Bank and the IMF.
Speaking on the sidelines of the World Bank and IMF meetings in Marrakech, Morocco, Treasury Cabinet Secretary Njuguna Ndung’u told a group of investors from Japanese multinational, Sumimoto Mitsui Banking Corporation that use of cheaper financing from World Bank and IMF was being pursued as the primary pillar for addressing the Sh298 billion liability, which matures seven months from now.
