Kenya’s president warns of huge consequences after his effort to address an $80 billion debt fails

Kenyan president warns of huge consequences over debt plan failure

NAIROBI, Kenya — The ballooning debt in East Africa's economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. He now warns "it will have huge consequences." Facing public calls to resign, Ruto said the government will turn to slashing a $2.7 billion budget deficit by half and borrowing the rest, without saying from where. After …

Kenya's president warns of major fallout after $80 billion debt relief effort fails

Facing public calls to resign, Ruto has said the government will turn to slashing a $2.7 billion budget deficit by half and borrowing the rest, without saying from where.

Kenya’s President warns of huge consequences after his effort to address an $80 billion debt fails

Mr. Ruto has become deeply unpopular in his two years in office over his quest to introduce taxes meant to enable Kenya to repay its $80 billion public debt to lenders

Kenya's president warns of huge consequences after his effort to address an $80 billion debt fails

The ballooning debt in East Africa’s economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue.

Kenya's president warns of huge consequences after his effort to address an $80 billion debt fails - The Morning Sun

NAIROBI, Kenya (AP) — The ballooning debt in East Africa's economic hub of Kenya is expected to grow even more after deadly protests forced the rejection of a finance bill that President William Ruto said was needed to raise revenue. He now warns “it will have huge consequences.” Facing public calls to resign, Ruto has said the government will turn to slashing a $2.7 billion budget deficit by half and borrowing the rest, without saying from wher…