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Eurobond debt and how Kenya landed in financial stress

Kenya issued its fifth Eurobond bond on February 14.

Photo credit: | Shutterstock

What you need to know:

  • The Ruto administration turned up the tax knob, introducing a myriad of measures that have had the effect of pushing up the cost of living among Kenyans
  • Kenya’s debt to GDP is at 68 per cent. Tax as percentage of GDP is at 68 per cent.
  • For every Sh100 Kenya collects in taxes, about Sh40 goes into the payment of interests, largely due to expensive Eurobond and Chinese loans.