The shilling is yet to benefit from the use of the
Rotich said the government started spending the Eurobond proceeds last Friday with payment of
"We received the money on
The shilling has been hovering be- tween 87.50 and 88.00 to the dollar since the Eurobond was successful floated on the
Priority areas include expansion of power transmission lines, drilling of more geothermal wells, dredging of first four berths at the proposed Lamu port, building of commuter rail in
Rotich said the funds could slash projected domestic public borrowing to as low as Sh110 billion from Sh190 billion in the budget.
This is expected to unlock more money for private sector borrowing and help ease pressure on interest rates. Proceeds from the bond was however yet to reflect in the official us- able foreign exchange reserves by last Friday.
Meanwhile, Kenya has reached three agreements with
They included a deal on grant aid framework, a convention on avoidance of double taxation and prevention of tax evasion, and protection of investments.
The conclusion of the deals follows a visit by Kenyan delegation to
"We are going to use it to lobby the private sector to participate more in
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