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Nairobi cancelled a bond sale last year; it has 17 months to rebuild its credibility with investors before seeking to refinance a USD2bn Eurobond.
However, due to the Fund's outdated quota calculations, underperforming states would benefit the most, while Africa's most dynamic economies would see limited gains.
However, their campaign promises, some of which are ambitious, may be constrained by a difficult budgetary situation, something which neither camp denies.
Facing a worsening fiscal situation amid the COVID-19 pandemic but reluctant to participate in G20 debt restructuring, Kenya arguably had few other options than to apply for new…