
‘Tightrope’ debt situation not unique to Kenya, finance minister says
KENYA'S struggle with a heavy debt load and pressure on its hard currency reserves is not unique since other nations are facing the same situation, its finance minister said. Njuguna Ndung'u was responding to a research note by U.S. investment bank JPMorgan which said on Tuesday that the East African nation was "walking a tightrope" to avoid a crisis due to a maturing dollar bond and persistent currency weakness. "All low- and middle-income countries are walking a tightrope given the current economic constraints globally. The Kenyan case is being featured because of the Eurobond 2024," the minister told Reuters, referring…