Cabinet Secretary Henry Rotich [Photo/The Star]
The Government of Kenya has called upon several banks across the country to submit proposals for a Sh206 billion Eurobond .
According to reports, the government has called for the proposals to be submitted to the National Treasury by November 29th, 2017.
Should they move forward with the move it will be the second Eurobond issuance by the Kenyan Government. This follows a lot of controversy over the countries current debt issue in 2014 which is maturing in June 2024.
According to the opposition and the media the government has still failed to account for the proceeds received in 2014 along with tap sales issued in December, 2014.
This follows a warning issued by the International Monetary Fund (IMF) over the countries rising debt levels in a very short time period. IMF cautioned the government to instill and uphold regulations as to avoid any unanticipated shocks.
Cabinet Secretary for Treasury Henry Rotich has dismissed the claims and has expressed his confidence in the country’s economy following the prolonged electoral period.