Kenya is borrowing billions of dollars to pay off old debts in a high-stakes financial strategy that economists warn may only postpone a deeper fiscal crisis while increasing the nation’s overall debt burden.
The National Treasury on Friday announced a successful $1.5 billion (Sh193.5 billion) Eurobond issue, celebrating it as a demonstration of “managing debt more wisely.”
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`;
} else {
teaserEl.innerHTML = “”;
}
activeEl.innerHTML = “”;
paywallEl.style.display = “block”;
} else if (now >= saleStart && now <= saleEnd) {
paywallEl.style.display = “none”;
var diffToEnd = saleEnd – now;
var totalSeconds = Math.floor(diffToEnd / 1000);
var days = Math.floor(totalSeconds / (24 * 3600));
var hours = Math.floor((totalSeconds % (24 * 3600)) / 3600);
var minutes = Math.floor((totalSeconds % 3600) / 60);
var seconds = totalSeconds % 60;
activeEl.innerHTML = `
Offer ends in…
${days}Days
${String(hours).padStart(2,’0′)}Hours
${String(minutes).padStart(2,’0′)}Minutes
${String(seconds).padStart(2,’0′)}Seconds
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`;
} else {
teaserEl.innerHTML = “”;
activeEl.innerHTML = “”;
paywallEl.style.display = “block”;
}
}
function formatTime(ms) {
let totalSeconds = Math.floor(ms / 1000);
const days = Math.floor(totalSeconds / (3600 * 24));
totalSeconds %= 3600 * 24;
const hours = Math.floor(totalSeconds / 3600);
totalSeconds %= 3600;
const minutes = Math.floor(totalSeconds / 60);
const seconds = totalSeconds % 60;
return `${days}d ${hours}h ${minutes}m ${seconds}s`;
}
updateFlashSale();
setInterval(updateFlashSale, 1000);
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Kenya is borrowing billions of dollars to pay off old debts in a high-stakes financial strategy that economists warn may only postpone a deeper fiscal crisis while increasing the nation’s overall debt burden.
Follow The Standard
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By Brian Ngugi