Kenyan c bank chief laments rising interest rates

KENYA - The Central Bank of Kenya said on 18 July its efforts to restructure the government's debt were on track but lamented its inability to keep interest rates down due to a squeeze in government finances.

The bank is forced to go to the market every week to borrow an average of 8.0 to 8.5 billion shillings ($101-107 million), rolling over treasury bills as they mature.

Bank governor Nahashon Nyagah said although the bank had been hoping to reduce interest rates, the government's shaky finan