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Kenyan President William Ruto announced that the country will pay, in December, the first installment of US$300 million of the US$2 billion Eurobond loan, due in June 2024.
“We have worked hard, here and abroad, to mobilize a vast coalition of bilateral development partners, multilateral development banks and other agencies that have come together to lift our country out of outstanding debt,” said Ruto yesterday, quoted by Reuters before the Parliament.
The President’s announcement was made in his first State of the Nation address, after his victory in the August 2022 presidential election and after a first year in power marked by the increase in the cost of living, a crisis accentuated by the effects of the war in Ukraine.
