Kenya Bond Yields Spike as Investors Worry About Looming Debt Payments
- Kenya's 10-year Eurobond rates surge to 18.7%, signaling heightened default concerns
- President Ruto's UN address calling for debt restructuring adds to investor uncertainty
- Kenya faces record $2 billion Eurobond payment in mid-2024
- Ruto counting on new taxes to reduce fiscal deficit and ease repayment concerns
- Foreign investors now demanding over 18% returns on Kenya's bonds maturing in 9 months