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Another Huge Loan That Kenya Is Eyeing That Will Highly Increase The Current Outstanding Debt

Kenyan Government has for a long time continued to borrow money from external and internal sources in an effort to carry out it's operations. This has made the country enter into a huge debt that has tripled more than the outstanding debt in the previous Government of retired President Kibaki.

Kenya is now returning to the Euro bond market as it eyes for another 124 billon Euro bond loan that will increase the outstanding loan to 7.3 trillion. This process of borrowing will take effective by the end of June next year. If borrowed it will increase the country's stock of Eurobond to Ksh. 734 billion. The loan is expected to repay the maturing existing loan to avoid interest increase or penalty.

Many Kenyans have continued to criticize the Government of Uhuru Kenyatta for leading the country into a huge debt that will make it hard for the country to repay. The loans then ends up being misappropriated through corruption by some Government officials to a point of unable to provide evidence on how the money has been used.

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