Trouble as UHURU goes another loan to pay the Eurobond debts even as questions on what the bond has achieved still remains a mystery

DAILY POST: Trouble as UHURU goes another loan to pay the Eurobond debts even as questions on what the bond has achieved still remains a mystery News 13:48
Sunday December 2, 2018 - The Government of President Uhuru Kenyatta has approached the Trade and Development Bank (TDB) for a loan to pay off its five year Eurobond that is maturing in 2019. According to sources, Uhuru is seeking approximately $800 million (Kshs80 Billion) and $1 billion (Kshs100 Billion) to offset some of the debts. Sources further revealed that the TDB loan, which is supposed to be paid within a period of 7 years, will have an interest that is higher than other loans including the Eurobond. Syndicate loans are usually more expensive because they are easier and quicker to process, and the Government is under no obligation to reveal the loans' details to the public. This comes even as Uhuru’s appetite for loans has got both Kenyans, World Bank and IMF worried as to how the loans will be repaid.

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