Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Dollar crisis piles pressure on Sh75bn State firms foreign debt
Treasury Cabinet Secretary Prof Njuguna Ndung'u during the handover by his predecessor Ukur Yatani (right) at the National Treasury on October 28, 2022. PHOTO | DIANA NGILA | NMG
State-owned enterprises (SoEs) are sitting on non-guaranteed foreign currency debt worth Sh74.9 billion, exposing them to higher financing costs due to the sharp depreciation of the shilling against the US dollar.
The dollar loans account for three quarters of the State-owned enterprises’ total non-guaranteed debt of Sh99.3 billion, according to the Treasury’s annual debt management report for the fiscal year ended June 2022.
