The World Bank is wary about the ability of Kenya and other sub-Saharan to refinance their multi-billion Eurobonds in the coming months following the difficulties facing the global debt markets that have triggered a new wave of expensive loans.
In its update of sub-Saharan Africa’s economic outlook for 2023, the multi-lateral lender has noted a rise in the bond’s refinancing risk from increased interest rates, which have resulted in the narrowing of countries with market access for refinancing.
