Vote Serena Hotels World Travel Awards banner | Coastweek

.


THE MOST FROM THE COAST !

..


 Coastweek website


XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenya floats U.S. $400 million dollars T-bonds for budgetary support

NAIROBI (Xinhua) -- Kenya has put up for sale two Treasury bonds worth 400 million U.S. dollars as the East African nation grapples with a 5 billion dollars budget deficit.

The 10-year and 20-year bonds will be sold until Sept. 18 and have a fixed interest rate of 12.6 percent and 13.2 percent respectively, the Central Bank said Tuesday.

However, the bonds have been put on sale at a time when uptake of the long-term securities is low, with previous offers recording an under-subscription as investors go for Treasury bills.

Analysts noted that by selling the bonds, the government is pushing to lengthen the debt maturity profile to curb refinancing risk in the short-term.

The Kenya government is currently 38 percent ahead of its pro-rated borrowing target for the current financial year, having borrowed 769 million dollars against a prorated target of 575 million dollars.

The 2018/2019 budget has given a domestic borrowing target of 2.71 billion dollars, 8.6 percent lower than the 2017/2018 fiscal year’s target of 2.97 billion dollars, which may result in reduced pressure on domestic borrowing, according to analysts.

             

 

Remember: you read it first at coastweek.com !


BestWestern Swiss Cottage Hotel London | Coastweek

 

TO ADVERTISE ON THIS WEB SITE:  www.coastweek.com
Please contact

MOMBASA - GULSHAN JIVRAJ, Mobile: 0722 775164 Tel: (+254) (41) 2230130 /
Wireless: 020 3549187 e-mail: info@coastweek.com

NAIROBI - ANJUM H. ASODIA, Mobile: 0733 775446 Tel: (+254) (020) 3744459
e-mail: anjum@asodia.co.ke

 
    © Coastweek Newspapers Limited               Tel: (+254) (41) 2230130  |  Wireless: 020 3549187  |  E-mail: info@coastweek.com