'Tightrope' debt situation not unique to Kenya, finance minister says

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NAIROBI (Reuters) - Kenya's struggle with a heavy debt load and pressure on its hard currency reserves is not unique since other nations are facing the ...

NAIROBI - Kenya's struggle with a heavy debt load and pressure on its hard currency reserves is not unique since other nations are facing the same situation, its finance minister said onNAIROBI - Kenya's struggle with a heavy debt load and pressure on its hard currency reserves is not unique since other nations are facing the same situation, its finance minister said on Wednesday.

"All low- and middle-income countries are walking a tightrope given the current economic constraints globally. The Kenyan case is being featured because of the Eurobond 2024," the minister told Reuters, referring to a bond maturing next June. "That will not solve the persistent negative shocks that low- and middle-income countries are facing. A more well mapped set of solutions will be needed," he said.

 

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