Dear Reader,
Kenya’s downgrade by Moody’s Investors Service highlights the need for voluntary debt restructuring to avert the risk of default, economists say. Kenya needs to “come to the table with creditors and find a way of restructuring the debt,” says Reginald Kadzutu, CEO at Amana Capital in Nairobi. Debt service costs are now eating close to 70% of all revenue collected. As David Whitehouse writes, “The longer Kenya wants to restructure its debt, the more its options will narrow.” LEARN MORE
Nicholas Norbrook Managing Editor |
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