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Matt Dusk sings Sinatra in Halifax/PEI/Moncton | SaltWireMARRAKECH, Morocco - Kenya is planning to buy back up to a quarter of its $2 billion 2024 international bond before year-end after it secures new loans, central bank governor Kamau Thugge told Reuters, a move aimed at alleviating concerns it can repay the looming debt.
Thugge said Kenya is also in talks with the International Monetary Fund for an"augmentation" of its loan programme, which is undergoing its sixth review in November, and with the World Bank to add to a $750 million loan planned for March. If Kenya continues to be unable to issue new international bonds and has to repay the $2 billion from its foreign currency reserves, the reserves would still be at about $7 billion by the end of June 2024, Thugge said.
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