Kenya Eurobonds dip as Moody's renews foreign debt default fears

Finance CS Njuguna Nding`u during a meeting at a city hotel on August 3, 2023. [Collins Kweyu, Standard]

The government's intention to buy back part of the $2 billion (Sh282 billion) Eurobond has sparked negative sentiments with global ratings agency Moody's equating it to a default.

Bloomberg reported that Kenya's Eurobonds had plunged after the statement by Moody's.