Strong Kenya Shilling Against US Dollar, Other Foreign Currencies Cuts External Debt to KSh 5.2t
==========
The strength of the Kenyan shilling against the US dollar and other foreign currencies has led to a decrease in Kenya's external debt, which now stands at KSh 5.2 trillion. The Controller of Budget (CoB) report for the fiscal year 2023/24 showed that total public debt as of March 2024 was KSh 10.42 trillion, with 49.6% owed to external lenders and 50.4% owed to domestic lenders. The decline in external debt was attributed to the strengthening of the Kenyan shilling against major foreign currencies. The shilling gained value against the dollar by 24.66 points and was ranked among the top-performing currencies globally. The Central Bank of Kenya (CBK) expects the shilling to continue gaining strength as the country receives more foreign funding, particularly from the US. The government spent KSh 1.24 trillion on debt repayment, with the revised public debt allocation for the same period being KSh 1.87 trillion. KSh 839.14 billion was allocated towards servicing external debt.
#Kenya #ExternalDebt #KenyanShilling #UsDollar #ForeignCurrencies #ControllerOfBudget #CentralBankOfKenya #DebtRepayment
https://www.tuko.co.ke/business-economy/550579-strong-kenya-shilling-dollar-foreign-currencies-cuts-external-debt-ksh-52t/
Tuko.co.ke /
npub15yg…zncw
2024-06-03 13:02:23
Author Public Key
npub15ygdhawp2prr6xlzleujfs0hy9g3yvzgzv6pj49afh5sf5q8tfcqdjzncwSeen on
wss://relay.noswhere.comPublished at
2024-06-03 13:02:23Event JSON
{
"id": "4df47858b992057de11d7686b83d1a8397cc508b251bcd962e1aa9865a251d4e",
"pubkey": "a110dbf5c150463d1be2fe7924c1f7215112304813341954bd4de904d0075a70",
"created_at": 1717412543,
"kind": 1,
"tags": [],
"content": "Strong Kenya Shilling Against US Dollar, Other Foreign Currencies Cuts External Debt to KSh 5.2t\n==========\n\nThe strength of the Kenyan shilling against the US dollar and other foreign currencies has led to a decrease in Kenya's external debt, which now stands at KSh 5.2 trillion. The Controller of Budget (CoB) report for the fiscal year 2023/24 showed that total public debt as of March 2024 was KSh 10.42 trillion, with 49.6% owed to external lenders and 50.4% owed to domestic lenders. The decline in external debt was attributed to the strengthening of the Kenyan shilling against major foreign currencies. The shilling gained value against the dollar by 24.66 points and was ranked among the top-performing currencies globally. The Central Bank of Kenya (CBK) expects the shilling to continue gaining strength as the country receives more foreign funding, particularly from the US. The government spent KSh 1.24 trillion on debt repayment, with the revised public debt allocation for the same period being KSh 1.87 trillion. KSh 839.14 billion was allocated towards servicing external debt.\n\n#Kenya #ExternalDebt #KenyanShilling #UsDollar #ForeignCurrencies #ControllerOfBudget #CentralBankOfKenya #DebtRepayment\n\nhttps://www.tuko.co.ke/business-economy/550579-strong-kenya-shilling-dollar-foreign-currencies-cuts-external-debt-ksh-52t/",
"sig": "bb548a8ea24d5a7231831160f93c62a23e20789fd812504a93cb327ccea2236de7d5ad8ff859d4d916f8fef3dc10c6519f58cdf435ec7f816c2f533eee52af97"
}