Kenya’s Domestic Debts Surpass Foreign as Interest Rates Peak

• Domestic debt now 50.34% of total, surpassing foreign debt
• Strengthening shilling contributes to decline in external debt

Nairobi, Kenya – Kenya’s domestic debt has surpassed external debt for the second time in 18 months, pinpointing the government’s increased reliance on banks, insurance, and pension institutions to finance the budget deficit.