Moody’s revises Kenya’s credit outlook to ‘positive”

Kenya’s fiscal position has received a boost after global credit rating agency, Moody’s, revised the country’s credit outlook from “negative to positive.”
Kenya’s fiscal position has received a boost after global credit rating agency, Moody’s, revised the country’s credit outlook from “negative to positive.”
President William Ruto’s management of the economy has been lauded by Moody’s Ratings, a United States-based international financial research institution.
In their findings released on Friday, January 24, the company noted that Kenya currently stands a high chance of highly reducing liquidity risks and improving debt affordability.
“Domestic financing costs have started to decline amid monetary easing and could continue if the government sustains its more effective management of social demand and fiscal consolidation,” Moody’s report partly read.
If Ruto’s administration continues the course, Kenya will increase its credit score and easily attract funding.
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“Such a track record would also boost Kenya’s access to concessional and commercial external funding. Revenue collection efforts, if successful, present the potential for further improvements in debt affordability, although Kenya has struggled to expand revenue significantly and durably in the past, notwithstanding recent measures,” Moody’s report read on.
The institution, however, observed that Kenya’s fiscal health is still not out of the woods, given the increasing needs and limited funding.
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