The share of Kenya’s external debt from commercial lenders declined to 14 percent from 15.5 percent in the year to June 2022, reflecting difficulties the government has faced accessing international credit due to high interest rates.
The National Treasury cancelled issuance of a Eurobond and syndicated loan early this year due to the current high cost of borrowing, with investors at some point, demanding rates of up to 22 percent to lend to the country.
