Connect with us

Hi, what are you looking for?

top
Capital News
Treasury CS Ukur Yatani. /CFM-FILE.

Kenya

Kenya gets debt suspension for 6 months

NAIROBI, Kenya, Jan 11- Kenya is among countries that have benefited from debt service suspension from 10 countries including France, Japan and the United States of America among others.

The announcement was contained in a letter by the Paris Club creditors which said Kenya had qualified for a debt service suspension.

The suspension will be in effect from January 1 to June 30, 2021.

The Paris club is an informal group of official creditors which was formed in 1956 and its role is to find coordinated and sustainable solutions to the payment difficulties experienced by borrower countries.

“The Government of the Republic of Kenya is also committed to seek from all its other bilateral official creditors a debt service treatment that is in line with the agreed term sheet and its addendum. This initiative will also contribute to help the Republic of Kenya to improve debt transparency and debt management,” part of the statement read.

Other members of the Paris Club include Belgium, Canada, Denmark, Germany, Italy, the Republic of Korea, and Spain.

Observers to the agreement were representatives of the governments of Australia, Austria, Brazil, Finland, Ireland, Israel, the Netherlands, Norway, the Russian Federation, Sweden, Switzerland and the United Kingdom.

Currently, Kenya’s public debt is above 8 trillion Kenyan shillings.

Advertisement. Scroll to continue reading.

Click to comment
Advertisement

More on Capital News

Kenya

Sossion further wants the commission's Chief Executive Officer Nancy Macharia to be jailed for six months for contempt of court orders.

County News

NAIROBI, Kenya, Jan 21- The government has expressed optimism of eradicating the locusts’ menace. Agriculture Cabinet Secretary Peter Munya said that 80 percent of...

Capital Health

NAIROBI, Kenya, Jan 21  – The Kenya National Union of Nurses (KNUN) said it will hold regional demonstrations from Monday to press for the...

Capital Health

Ulaanbaatar, Mongolia, Jan 21 – Mongolia’s prime minister resigned Thursday following protests and public outrage over the treatment of a coronavirus patient and her...

Corona Virus

Mumbai, India, Jan 21 – A fire broke out Thursday at India’s Serum Institute, the world’s largest maker of vaccines, but a source said production of...

County News

His arrest came barely days after Interior Cabinet Secretary Fred Matiangi said the government was in pursuit of leaders who are believed to be...

Capital Health

As of Jan 21, the country had a cumulative caseload of 99,444 while the death toll stood at 1,736

County News

Suppliers in counties have gone for months without pay, some since early last year.