Africa Debt Economy Finance Kenya

Paris Club creditors accept Kenya debt relief request

The Paris Club of international creditors said on Monday it had accepted a request from Kenya for debt service suspension from January to the end of June.

“Kenya is committed to devote the resources freed by this initiative to increase spending in order to mitigate the health, economic and social impact of the COVID19-crisis,” the Paris Club said in a statement on its website.

Kenya was also committed to seek from other bilateral official creditors a debt service treatment that is in line with the agreed terms of the Debt Service Suspension Initiative (DSSI) of the G20 group of rich nations and big emerging powers, the statement added.

Also read: Kenya plans to defer US$690M in debt payments under G20 initiative

Source: Reuters

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: