Tag: Impact of fiscal deficit on Kenya

Moody Ratings and Kenya’s Path on a Fiscal Tightrope

Moody’s Ratings recently downgraded Kenya’s local and foreign currency long-term issuer ratings and foreign currency unsecured ratings to Caa1 from B3. This rating largely paints a negative outlook for the country’s fiscal status. The downgrade is significantly reflective of a diminished capacity to implement revenue-based fiscal consolidation that would improve debt affordability and place […]...