After the painful 2024 rollover of the 2024 Eurobond, Kenya entered 2026 with a more proactive debt-management posture. A Sh64.5 billion buyback in February 2026 followed earlier work that retired $579 million of the 2027 note in 2025. The strategy is reshaping the country's external-debt redemption profile and, indirectly, the shilling.
The Kenyan shilling has depreciated from seven per US dollar at independence to over 130, a journey reflecting the country's economic development, external pressures, and monetary policy choices. This...
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