Moody’s Downgrades Kenya’s Sovereign Rating Amid Fiscal Challenges

Moody’s downgraded Kenya’s sovereign rating to “Caa1” from “B3” on Monday, citing reduced ability to manage its debt burden through fiscal consolidation. Reuters says, This downgrade affects the country’s local- and foreign-currency long-term issuer ratings and foreign-currency senior unsecured debt ratings. In June, Kenyan President William Ruto withdrew planned tax hikes following mass protests that resulted in at least 24 deaths.

Written by: Leonard Witbeen

Future Media FUTURE MEDIA NAMIBIA FUTURE MEDIA NEWS kenya downgrade Moody's

Rate it

Female elephants rumble to say ‘let’s go!’ New study in Namibia shows males do too, a sign of unexpected social bonds

By Caitlin O'Connell-Rodwell, Harvard University In elephant family groups made up of related females and their young, it is clear that the animals produce vocal sounds to coordinate action. This happens when it’s time to leave a waterhole, for example. The matriarch or dominant female steps away […]

September 20, 2024 10