External Debt

Kenya’s external debt portfolio is composed of credit from Bilateral, Multilateral, Commercial Banks, Suppliers Credit and Guarantees. Public and publicly guaranteed external debt stock increased to Kshs 3,515.8 billion in June 2020 from Kshs 3,023.1 billion in June 2019, a rise of 16.3 per cent. The increase was attributed to disbursements from multilateral creditors as well as foreign exchange rate movements. The share of multilateral creditors increased to 37.5 per cent in June 2020 from 30.1 per cent in June 2019. The huge rise of multilateral debt stock is due to the Government contracting concessional debt from the World Bank, IMF, IBRD and ADB which is in line with the 2020 Medium Term Debt Management Strategy (MTDS) of contracting more debt on concessional terms.