Kenya to buy back $500 million in Eurobonds

Central bank governor says country will seek ‘exceptional’ IMF funding

Nairobi, Kenya

Kenya will borrow $500 million to buy back Eurobonds due in 2024 and ask for greater International Monetary Fund credit, Central Bank of Kenya governor Kamau Thugge told Reuters.

In the interview, published on October 12, Thugge said Kenya was planning to borrow between $500 million and $1 billion from two regional banks.

“We would use part of that for the buyback, for the liability management, and the rest would be for the budget support,” said Thugge.

Thugge added Kenya would seek

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