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Kenya will not default on its debt – President

The Kenyan president says the country will not default on its debt in the face of severe economic challenges.

William Ruto told journalists Kenya had “applied the brakes” on any more borrowing.

When it took over in September last year, his government said it would cut expensive commercial borrowing in favour of cheaper sources such as the World Bank.

Like several other African countries, Kenya’s credit rating has been at risk of being downgraded because of rising debt and surging global interest rates.

Source: Ghana News

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