Hope for cheaper loans to Kenyans received a further boost on Monday when Central Bank of Kenya’s (CBK) Monetary Policy Committee (MPC) lowered the lending rate to 8.25 percent from 8.50 percent.
This is the second consecutive time the benchmark lending
rate has been lowered since the
International Monetary Fund has said that Kenya uses almost
half of its revenues collected to pay loans.
The multilateral fund agency said the condition is similar
to countries in the world who risk debt distress.
“General government debt has risen to 57 percent of GDP,
which is the highest in