Global Body Warns of Consequences for Kenya on August 23 if Protests Persist

Global Body Warns of Consequences for Kenya on August 23 if Protests Persist

Global Body Warns of Consequences for Kenya on August 23 if Protests Persist: S&P Global, an international credit rating company, on Monday warned that Kenya’s credit score would go down should political unrest persist. 

According to The global body, if the anti-government protests persist, Kenya’s credit score would be cut from B to B- on August 23, 2024.

The global body maintained that the best Kenya can hope for on August 23 is maintaining the B credit score and keeping it on a downgrade warning of a “negative outlook”

“At that point (August 23) we will have more clarity around the International Monetary Fund,” S&P was quoted by Reuters on the missing information they were waiting to make the decision.

“We will have more clarity around the appropriation bill, the spending allocations, the final budget, the finance bill (and) potentially the new cabinet members.”

IMF’s assessment will be key in determining how the credit rating company rates Kenya considering the financial institution together with the World Bank are Kenya’s largest financiers.

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