NAIROBI — The Kenyan government has declared its intention to repurchase more than $1.4 billion of its $2 billion international bond, which is due to mature in June. This decision is part of an effort to alleviate worries concerning the nation's pressured public finances. The government has issued a new $1.5 billion Eurobond earlier this week to fund the majority of this buyback operation.

According to Africa News Agency, the move is expected to strengthen investors' confidence in Kenya's ability to meet its financial obligations, as evidenced by the immediate positive impact on the local currency. However, the high interest rates attached to the new bond highlight ongoing concerns among investors regarding the risks associated with Kenyan debt. Despite facing fiscal challenges and public dissatisfaction over tax burdens, Kenya continues to receive international support, including a significant aid increment from the IMF amounting to $941 million in January.