Sharp Daily
No Result
View All Result
Saturday, August 30, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Global Growth Deferred By Rising Debts-IMF

Dennis Otsieno by Dennis Otsieno
March 1, 2023
in News
Reading Time: 1 min read
International Monetary Fund

International Monetary Fund [Photo/Courtesy]

Rising debt distress in developing economies such as Kenya is a major threat to their contribution to global growth, International Monetary Fund now says.

According to the lender’s latest future prospects outlook in preparation for this year’s G20 summit in India, about 15 percent of low-income countries are in debt distress and an additional 45 percent are at high risk of debt distress.

In Kenya, debt servicing has been a pain to the taxpayers who have been hit by a series of tax increments in efforts to reduce foreign debt pressures as well as narrow the government’s fiscal deficit.

Maturity of some of the loans, such as the USD 2.0 billion Eurobond maturing in June 2024, amidst the weakening Kenyan shilling against the dollar has put pressure on the National Treasury to seek additional billions for repayment of mounting foreign debt.

RELATEDPOSTS

Why firms are shedding jobs despite survival

June 19, 2025

Opinion: Austerity wrong medicine for Kenya’s economy.

June 16, 2025

Read S& P Global Ratings Revised Down Kenya’s Outlook To Negative On Account Of Weakening Liquidity Position

The Kenyan Shilling has continued depreciating consequently against the US dollar, hitting a new low of 126.9 recently posing much pressure on the country’s external debt. It opened the year at 123.4 with the local currency shedding about 2.8 percent of its value to the dollar year-to-date.

It is the second time the reserves are dropping below the statutory levels in less than three months.  These can be the reasons that could plunge the country into debt distress as echoed by the World Bank and International Monetary Fund who say Kenya is currently at risk of high debt distress.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

Unlocking Effective Corporate Communication-A Practical Guide

Next Post

Innovation As A Driver Of Healthcare Development In Africa

Dennis Otsieno

Dennis Otsieno

Related Posts

News

Kick financial goals: Invest with CMMF this football season

August 22, 2025
commercial illustrator
News

Why Kenyan private equity firms should consider continuation funds as an exit strategy

July 23, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025

LATEST STORIES

The Importance of Including Pension Plans in Corporate Benefits Packages

August 29, 2025

The informal labor market and classical unemployment in the Kenyan context

August 28, 2025

Kenya’s Eurobond yields ease after S&P rating upgrade

August 28, 2025

Kenya’s strategic debt pivot: Smoothing, Strengthening, Sustaining

August 27, 2025

Bank on your paycheck: Invest smart with CMMF

August 26, 2025

Finding Balance: My Journey with Internet Self-Care

August 22, 2025

Why Young Kenyans Cannot Afford to Ignore Private Pensions

August 22, 2025

Strategies for Nairobi to emerge as Africa’s financial hub

August 22, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024