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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

kenya downgrade

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Africa

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.

todayJuly 9, 2024 8

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