Kenya’s public debt has risen significantly over the years, from about 42.2% of GDP in 2013 to 72.0% in 2023 before declining to 65.7% in 2024 largely due to strengthening of Kenya shilling. Kenya continues to access both domestic and international markets, issuing a new Eurobond in February 2024. External debt stood at USD 38.70 billion (52.9% of total debt or 38.2% of GDP) and domestic debt at USD 34.46 billion (47.1% of total debt or 33.3% of GDP). External debt is dominated by multilateral borrowing, accounting for more than half of total debt (50.5%), followed by commercial debt at 25.4%, while bilateral lenders and suppliers’ credit account for 23.8% and 0.3%, respectively. […]