Reported 9 months ago
Kenya's sovereign dollar bonds faced continued losses as anti-government protests led President William Ruto to abandon a $2.3 billion plan aimed at balancing the budget and ensuring debt sustainability. The protests, which began on June 18, resulted in at least 17 deaths and a pushback against fiscal reforms. Scrapping the tax plan, Ruto faces challenges to rein in a budget deficit and interest burden, with concerns growing about Kenya's long-term solvency amidst the aftermath of Russia's invasion of Ukraine and rising global prices.
Source: YAHOO