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Kenya Abandons Eurobond Plan in Change of Funding Strategy

Kenya has dropped plans to tap international capital markets this fiscal year due to the high cost of dollar debt, according to Treasury Secretary Njuguna Ndung’u.

The East African nation will seek cheaper concessional funding instead, Ndung’u told the state-run MyGov newspaper.

It will return to international debt markets “when conditions improve,” he said.

Source: Bloomberg

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