Kenya: Debt Sustainability Analysis

International Monetary Fund

No 2003/400, IMF Staff Country Reports from International Monetary Fund

Abstract: This report of the Debt Sustainability Analysis (DSA) indicates that the envisaged strategy of a partial substitution of domestic debt by increased inflows of external grants and concessional loans, as well as a rescheduling of external debt by the Paris and London Clubs, would facilitate the achievement of debt sustainability. The DSA also confirms that such a debt rescheduling could constitute an appropriate exit strategy for Kenya. The DSA also shows that debt sustainability would improve significantly with a concessional rescheduling, particularly under the Naples terms.

Keywords: ISCR; CR; ratio; arrears clearance; debt-to-exports ratio; financing gap; ratio of debt service; NPV of contingent liabilities; CBK debt; debt indicator; debt-creating flow; Debt service; Debt service ratios; Arrears (search for similar items in EconPapers)
Pages: 12
Date: 2004-01-08
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