Battle: Dar es Salaam vs Nairobi

Battle: Dar es Salaam vs Nairobi

Kenya seeks G20 $298m debt holiday extension​



FRIDAY JANUARY 29 2021​

Kenya's National Treasury.'s National Treasury.

Kenya's National Treasury building. FILE PHOTO | NMG


BDgeneric_logo

By BUSINESS DAILY
More by this Author

Kenya may receive additional debt relief from the Paris Club of international creditors to help ease Covid-19 related financial distresses.

The country has already received Ksh32.9 billion (about $298.6 million) loan repayment break which it would have paid between January and June, and will make more savings if the period is extended for another six months.

Central Bank of Kenya (CBK) governor Patrick Njoroge said an announcement extending the debt service waivers may come in April.

“We should add that G20 have committed to consider if they could extend the Debt Service Suspension Initiative (DSSI) beyond June 2021. They will consider it in April in the context of the IMF-World Bank spring meetings,” he said during a post monetary policy committee (MPC) briefing on Thursday.

The Paris Club — which includes Belgium, Canada, Denmark, France Germany, Italy, Japan, Republic of Korea, Spain and the US — earlier this month said it had accepted a request from Kenya for debt service suspension from January to end of June.

Kenya will repay the money over five years with a 12-month grace period, reducing the level of debt service that has fomented a crisis following decline in revenues due to coronavirus pandemic.


The country has also applied for relief estimated at Ksh40.6 billion ($368.5 million) due from January 1 to June 30 from non-Paris Club creditors.

Dr Njoroge said Kenya’s bilateral debt to rich countries for the six months to June stood at $600 million (Ksh66 billion) with China holding more than half of the debt due at $378 million (Ksh41 billion).

Finance Cabinet Secretary Ukur Yatani said he had also received confirmation from China that it will give Kenya a similar moratorium.

***

Exchange rate: $1=Ksh110.15

Vp tena 🤣🤣🤣🤣. Yosef Festo kwema
 
Exactly PPP, now did u analyse it's pros n cons vs taking a direct loan? How does it impact on a country's budget? , msomi wa Russia changamka...,
Subirini miaka 30 ya joto la jiwe linakuja kutoka kwa yule yule aliwabikiri kwenye white elephant SGR ndio huyo huyo atafanya maajabu miaka 30 🤣🤣🤣🤣🤣🤣
Uhehehehehehheheheheheh🤣🤣👇👇 endelea kujipa matumaini unafkiri muna akili ya kumzidi mchina 👇👇👇👇View attachment 1688810
 
angalia tofauti hapa si bendera ya nchi! Bali ni bendera ya kuruhusu treni kupita!
Hiyo ya kuzindua miradi kwa kutumia bendera ya nchi ni tamaduni ya Kenya. Yeye ameenda kwenye internet na akakosa kabisa kupata mfano kama huo from another country. Sisi huwa tunalaunch hadi wanadamu sio ng'ombe tu. Hawa ni wanariadha waliokuwa wanaenda olympic ya 2016 wakizinduliwa na rais
images (10).jpeg



Cc chongchung
 
Hapo sawa kabisa with effects of covid19 itabidi, then by the end of 2021/22 financial year tutawanyorosha bado.Niko area kuwakumbusha with results., wanabiashara ndio wanaelewa.,
🤣🤣🤣🤣🤣🤣🤣🤣 ile GDP iko wapi au sasa hvi iko ICU kwa madeni yasiolipika🤣🤣🤣🤣
 
Back
Top Bottom