Tag: kenyan shilling
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Kenya’s Rapidly Devaluing Currency Pushes Up Debt Servicing Costs, Particularly to China
The cost to repay Kenya's dollar-denominated loans is getting more expensive, literally by the day. The National Treasury reported that the plunging value of the shilling since the beginning of the year has increased the cost to service dollar-denominated loans by ...
China’s Role in Kenya’s Unfolding Economic Calamity
There's growing speculation among international investors that Kenya is now poised to become the next African country to default on its debt. The markets worry about how Kenya will remain solvent in the face of three converging trends that are making ...
Rising Debt and a Sinking Currency is a Bad Combination For Kenya
Kenya's embattled currency, the shilling, sank even further on Monday, dipping to an all-time low of 115 against the U.S. dollar, prompting renewed concerns that the country will soon face a dramatic economic reckoning. The problem is that every time the shilling ...