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What new Moody’s credit rating means for Kenya
The agency also points out that the effectiveness of Kenya’s fiscal policy is constrained by relatively weak institutions, policy unpredictability and high levels of corruption.
Last Friday, global ratings agency Moody’s revised Kenya’s outlook from negative to positive, saying that falling domestic interest rates have eased concerns about the country’s liquidity and debt affordability position.
The change in outlook comes six months after the agency downgraded Kenya’s sovereign credit rating by one notch from “B3” to “Caa1” following the June protests that forced the government to withdraw the Finance Bill 2024, and forego the targeted Sh346 billion in additional tax revenue.
