Kenya’s public debt burden is high but not excessive in a peer group context, with the external and domestic components each accounting for about 34% of GDP at end-2022, but the structure of external debt means servicing costs are relatively high. External debt pressures climbed in 2022, as stringent US monetary tightening and the Russia-Ukraine war led to a spike in yields on Kenya’s six active Eurobonds, worth US$7.1bn in total. […]