The depreciation of the shilling inflated Kenya’s external debt by the equivalent of Sh69 billion in the first four months of this year, negating an actual decline of $250 million in the hard currency value of the borrowings in the period.
The latest public debt data from the Central Bank of Kenya (CBK) shows that external debt measured in dollars stood at $36.9 billion at the end of December, equivalent to Sh4.174 trillion at the prevailing exchange rate of 113.14 to the greenback.
