net_left adver left

Kenya will not default on its debt payments -President Ruto

Friday, January 6, 2023
Kenya will not default on its debt payments -President Ruto © Reuters. FILE PHOTO: Kenya's President William Ruto is escorted by Robert Kibochi, Chief of Kenya Defence Forces, after inspecting a guard of honour by the Kenya Defence Forces during the country's 59th Jamhuri Day or Independence Day celebrations at the Nyayo Nat

NAIROBI (Reuters) - Kenya will not default on its debt and plans to ramp up tax collection in the next two years, President William Ruto said on Wednesday.

Ruto's government, which took over in September, has pledged to curb expensive commercial borrowing in favour of cheaper sources like the World Bank to reduce debt servicing pressures.

The East African nation's public debt surged during an infrastructure construction drive under Ruto's predecessor Uhuru Kenyatta, prompting warnings from ratings agencies.

"This country of ours will not default. I want to give you my assurance. Our country will not default on our obligations. We have applied (the) brakes on any more borrowing," Ruto said in a wide-ranging interview with Kenyan media outlets.

He added that the government aimed to collect an extra 1 trillion shillings ($8.11 billion) in taxes in the next 24 months, and reiterated plans to cut 300 billion shillings in borrowing in the current fiscal year that runs until the end of June.

Like other frontier economies, Kenya found it almost impossible to raise funds from international bond markets in 2022 due to a surge in yields.

In June it was forced to cancel the planned issuance of a Eurobond and is seeking alternative sources of funding.

In February last year, Fitch said rising government debt levels and global interest rates were increasing the risk of credit rating downgrades in as many as 10 African countries, with Kenya, Ghana, Lesotho, Namibia, Rwanda and Uganda most at threat.

($1 = 123.3000 Kenyan shillings)

Leave your comment
HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
27-03-2023 10:12:00 (UTC+7)

EUR/USD

1.0770

+0.0011 (+0.10%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (2)

EUR/USD

1.0770

+0.0011 (+0.10%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (2)

GBP/USD

1.2243

+0.0013 (+0.11%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (4)

USD/JPY

130.76

+0.07 (+0.05%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

AUD/USD

0.6652

+0.0007 (+0.11%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (0)

USD/CAD

1.3732

-0.0012 (-0.09%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (3)

EUR/JPY

140.82

+0.21 (+0.15%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (3)

EUR/CHF

0.9895

-0.0002 (-0.02%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

Gold Futures

1,995.50

-6.20 (-0.31%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (10)

Sell (0)

Silver Futures

23.247

-0.092 (-0.39%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (3)

Copper Futures

4.0762

-0.0013 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (6)

Crude Oil WTI Futures

69.28

+0.02 (+0.03%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (5)

Brent Oil Futures

74.55

-0.04 (-0.05%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (3)

Natural Gas Futures

2.277

-0.084 (-3.56%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (4)

Sell (1)

US Coffee C Futures

179.42

+5.12 (+2.94%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (3)

Sell (4)

Euro Stoxx 50

4,130.62

-76.52 (-1.82%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

S&P 500

3,970.99

+22.27 (+0.56%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

DAX

14,957.23

-253.16 (-1.66%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

FTSE 100

7,405.45

-94.15 (-1.26%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

Hang Seng

19,576.00

-339.68 (-1.71%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (5)

US Small Cap 2000

1,734.92

+14.63 (+0.85%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

IBEX 35

8,792.50

-177.50 (-1.98%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (2)

BASF SE NA O.N.

45.915

-0.460 (-0.99%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

Bayer AG NA

55.55

-0.39 (-0.70%)

Summary

Neutral

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (3)

Sell (5)

Allianz SE VNA O.N.

205.15

-1.65 (-0.80%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (2)

Adidas AG

141.12

-1.18 (-0.83%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (3)

Deutsche Lufthansa AG

9.367

-0.476 (-4.84%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Siemens AG Class N

140.58

-4.60 (-3.17%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (2)

Deutsche Bank AG

8.540

-0.796 (-8.53%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (7)

 EUR/USD1.0770Buy
 GBP/USD1.2243Buy
 USD/JPY130.76↑ Sell
 AUD/USD0.6652↑ Buy
 USD/CAD1.3732Buy
 EUR/JPY140.82Neutral
 EUR/CHF0.9895↑ Sell
 Gold1,995.50↑ Buy
 Silver23.247↑ Buy
 Copper4.0762↑ Sell
 Crude Oil WTI69.28↑ Sell
 Brent Oil74.55↑ Sell
 Natural Gas2.277Neutral
 US Coffee C179.42Neutral
 Euro Stoxx 504,130.62↑ Buy
 S&P 5003,970.99↑ Buy
 DAX14,957.23↑ Buy
 FTSE 1007,405.45↑ Buy
 Hang Seng19,576.00Sell
 Small Cap 20001,734.92↑ Sell
 IBEX 358,792.50↑ Buy
 BASF45.915↑ Buy
 Bayer55.55Neutral
 Allianz205.15↑ Buy
 Adidas141.12↑ Buy
 Lufthansa9.367↑ Sell
 Siemens AG140.58↑ Buy
 Deutsche Bank AG8.540↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,675/ 6,725
(5/ 5) # 1,086
SJC HCM6,665/ 6,735
(5/ 5) # 1,098
SJC Hanoi6,665/ 6,737
(5/ 5) # 1,100
SJC Danang6,665/ 6,737
(5/ 5) # 1,100
SJC Nhatrang6,665/ 6,737
(5/ 5) # 1,100
SJC Cantho6,665/ 6,737
(5/ 5) # 1,100
Cập nhật 27-03-2023 10:12:02
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,976.81-1.82-0.09%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V23.96024.430
RON 95-III23.03023.490
E5 RON 92-II22.02022.460
DO 0.05S19.30019.680
DO 0,001S-V20.56020.970
Dầu hỏa 2-K19.46019.840
ↂ Giá dầu thô thế giới
WTI$69.25+0.460.65%
Brent$74.50+0.50.67%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.310,0023.680,00
EUR24.658,6026.039,29
GBP28.021,2429.216,01
JPY174,95185,22
KRW15,6319,04
Cập nhật lúc 10:05:48 27/03/2023
Xem bảng tỷ giá hối đoái
adver main right