East African countries go on a loan binge to bridge huge budget deficits
President Samia Suluhu Hassan Tanzania would seek more concessional loans to fund strategic projects, including construction of the standard gauge railway (SGR). PHOTO | FILE
Kenya plans to float two new sovereign bonds in the next six months to finance the budget and repay part of the its inaugural Eurobond floated in 2014.
Uganda is also in early-stage discussions with lenders for a new $500 million syndicated loan expected to launch before April of 2022.
Tanzania has also indicated it will be seeking loans in the new year to push through its ambitious infrastructure projects.
