Kenya may opt to issue a Eurobond with a different tenor to manage next year's maturity of a $2 billion, 10-year bond, the director of its debt management office told Reuters on Friday.
The Kenyan shilling has depreciated 29% to 125.50 per dollar since the bond was issued, prompting concerns among market participants and government officials.
The government is about to conclude a deal to raise $600 million from a syndicate of banks, details of which were not disclosed, he said, part of the planned $900 million commercial borrowing for this financial year to the end of June.Kenya's debt-to-GDP ratio could fall significantly if the country sticks to the fiscal consolidation path set out by the government, Sirima said.
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