{"id":15043,"date":"2024-06-05T09:45:13","date_gmt":"2024-06-05T09:45:13","guid":{"rendered":"https:\/\/www.getufm.co.ke\/?p=15043"},"modified":"2024-06-05T09:45:15","modified_gmt":"2024-06-05T09:45:15","slug":"the-government-reveales-plans-to-allocate-ksh130-billion-1-billion-for-repayment-of-eurobond-due-in-2027","status":"publish","type":"post","link":"https:\/\/www.getufm.co.ke\/?p=15043","title":{"rendered":"The Government Reveales Plans To Allocate Ksh130 billion ($1 billion) For Repayment Of Eurobond due in 2027."},"content":{"rendered":"\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"961\" height=\"630\" src=\"https:\/\/www.getufm.co.ke\/wp-content\/uploads\/2024\/06\/Screenshot-2024-04-25-141253-og_image.webp\" alt=\"\" class=\"wp-image-15044\" srcset=\"https:\/\/www.getufm.co.ke\/wp-content\/uploads\/2024\/06\/Screenshot-2024-04-25-141253-og_image.webp 961w, https:\/\/www.getufm.co.ke\/wp-content\/uploads\/2024\/06\/Screenshot-2024-04-25-141253-og_image-480x315.webp 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) 961px, 100vw\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The government has revealed plans to allocate Ksh130 billion ($1 billion) for the partial repayment of the Eurobond due in 2027.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The move is part of the government\u2019s strategy to mitigate the country&#8217;s debt distress. Kenya&#8217;s National Treasury plans to utilize the recent Ksh156 billion World Bank loan to address the long-term debt three years before its maturity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe planned buyback aims to smooth the amortization profile, as was done with the recent issuance, which was spread over three years,\u201d stated the World Bank report. This will be the second Eurobond buyback this year, following the partial settlement of the Ksh310 billion ($2 billion) Eurobond maturing in June.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With this action, the total buybacks for the year will reach Ksh326 billion ($2.5 billion), as the government enacts strategies to further reduce debt. This initiative coincides with President Ruto&#8217;s appeal for concessional financing, advocating for loans with lower interest rates and extended repayment periods.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, Kenya plans to issue debt swaps and sustainability-linked bonds as part of its comprehensive debt management strategy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In February, the National Treasury announced a Ksh233 billion ($1.5 billion) buyback of the Eurobond maturing in June. During a press briefing in Nakuru County, President Ruto emphasized that the payment was made four months before maturity to reassure foreign investors. \u201cYesterday marked a significant financial milestone for Kenya as we successfully settled the buyback of a substantial portion of the USD2 billion 2014 Eurobonds that were set to mature on 24th June 2024,\u201d the President remarked.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government has revealed plans to allocate Ksh130 billion ($1 billion) for the partial repayment of the Eurobond due in 2027. The move is part of the government\u2019s strategy to mitigate the country&#8217;s debt distress. Kenya&#8217;s National Treasury plans to utilize the recent Ksh156 billion World Bank loan to address the long-term debt three years [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":15044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[12,3],"tags":[],"class_list":["post-15043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/www.getufm.co.ke\/wp-content\/uploads\/2024\/06\/Screenshot-2024-04-25-141253-og_image.webp","_links":{"self":[{"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/posts\/15043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15043"}],"version-history":[{"count":1,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/posts\/15043\/revisions"}],"predecessor-version":[{"id":15045,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/posts\/15043\/revisions\/15045"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=\/wp\/v2\/media\/15044"}],"wp:attachment":[{"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.getufm.co.ke\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}